Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below is the balance sheet for Trinity Motors Company for December 31 of 2020 and 2021. 2020 2021 2020 2021 Cash 800 1,000 Accounts receivable
Below is the balance sheet for Trinity Motors Company for December 31 of 2020 and 2021. 2020 2021 2020 2021 Cash 800 1,000 Accounts receivable 2,400 3,000 Accounts payable Current liabilities 2,400 3,000 2,400 3,000 Inventory 2,400 3,000 Long-term debt 4,800 6,000 Current assets 5,600 7,000 Total liabilities 7,200 9,000 Net fixed assets 10,400 13,000 Total assets 16,000 20,000 Equity Total liab. & equity 16,000 20,000 The income statement for 2021 is also given: 8,800 11,000 Amount Sales 48,000 Cost 26,400 Depreciation 7,200 EBIT 14,400 Interest 4,800 Taxes 2,400 Net income 7,200 Dividends 6,480 Part 1 What was the cash flow from assets in 2021? 0+ decimals Submit Attempt 1/5 for 10 pts. Part 2 What was the cash flow to creditors in 2021? Attempt 1/5 for 10 pts. 0+ decimals Submit Part 3 What was the cash flow to stockholders in 2021? 0+ decimals Submit Attempt 1/5 for 10 pts
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started