Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cash Flow from Investing. Cash Flow from Finance Alberta Corporation 2019 Income Statement Sales Cost of goods sold Selling and Admin. Costs Depreciation $500,000 $300,000
Cash Flow from Investing.
Cash Flow from Finance
Alberta Corporation 2019 Income Statement Sales Cost of goods sold Selling and Admin. Costs Depreciation $500,000 $300,000 $60,000 $50,000 EBIT Interest expense $90,000 $10,000 EBT $80.000 Taxes @ 25% $20,000 Net income $60,000 Dividends paid $20,000 Additions to retained earnings $40,000 Alberta Corporation Balance Sheet, Jan. 1, 2019 Cash Accounts receivable Inventory $10,000 $20,000 $15,000 Accounts Payable Notes payable $5,000 $10,000 Current assets $45,000 Current Liabilities $15,000 Net fixed assets $300,000 Long term debt Equity Total Liabilities and Equity $150,000 $180,000 $345,000 Total assets $345,000 Alberta Corporation Balance Sheet, Dec. 31, 2019 Cash Accounts Receivable Inventory $12,000 $22,000 $20,000 Accounts Payable Notes Payable $7,000 $14,000 Current assets $54,000 Current Liabilities S21,000 Net fixed assets $400,000 Long term debt Equity Total Liabilities and Equity $160,000 $273,000 $454,000 Total assets $454,000 The following are the Income Statement (Jan. 1, 2019-Dec. 31, 2019) and Balance Sheets (both January 1, 2019 and December 31, 2019) for Alberta Corporation. Use this information to answer the question below. Based on the statements from Alberta Corporation, prepare a cash flow statement in the following format for the year 2019Step 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