Question
Cash flow from assets. Use the data from the following financial statements in the popup window, LOADING.... The company paid interest expense of $ 17
Cash flow from assets. Use the data from the following financial statements in the popup window, LOADING.... The company paid interest expense of $ 17 comma 300 for 2017 and had an overall tax rate of 40 % for 2017. Find the cash flow from assets for 2017, and break it into its three parts: operating cash flow, capital spending, and change in net working capital.
Partial Income Statement Year Ending 2017 | |
Sales revenue | $350,100 |
Cost of goods sold | $142,000 |
Fixed costs | $43,000 |
Selling, general, and administrative expenses | $28,200 |
Depreciation | $46,200 |
Partial Balance Sheet 12/31/2016 | |||
ASSETS |
| LIABILITIES |
|
Cash | $15,800 | Notes payable | $13,800 |
Accounts receivable | $28,200 | Accounts payable | $19,000 |
Inventories | $48,100 | Long-term debt | $190,100 |
Fixed assets | $368,100 | OWNERS' EQUITY |
|
Accumulated depreciation | $141,300 | Retained earnings |
|
Intangible assets | $82,100 | Common stock | $131,900 |
Partial Balance Sheet 12/31/2017 | |||
ASSETS |
| LIABILITIES |
|
Cash | $25,900 | Notes payable | $11,900 |
Accounts receivable | $19,100 | Accounts payable | $24,200 |
Inventories | $52,800 | Long-term debt | $162,000 |
Fixed assets | $448,200 | OWNERS' EQUITY |
|
Accumulated depreciation |
| Retained earnings |
|
Intangible assets | $82,100 | Common stock | $181,800 |
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