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Cash flow identity. Use the data from the following financial statements in the popup window, 23. The company paid interest expense of $18,600 for 2017
Cash flow identity. Use the data from the following financial statements in the popup window, 23. The company paid interest expense of $18,600 for 2017 and had an overall tax rate of 40% for 2017. Verify the cash flow identity: cash flow from assets = cash flow to creditors + cash flow to owners The cash flow from assets is $ . (Round to the nearest dollar.) Partial income statement rear ending 2017 Sales revenue $350,200 Cost of goods sold $141,900 Fixed costs $42,900 Selling, general, and administrative expenses $27,900 Depreciation $46,000 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS Cash Accounts receivable LIABILITIES $16,200 Notes payable $27,900 Accounts payable $48,100 Long-term debt $367,900 OWNERS' EQUITY $141,100 Retained earnings $82,200 Common stock $13,800 $18,800 $190,200 Inventories Fixed assets Accumulated depreciation Intangible assets $131,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES ASSETS Cash Accounts receivable $12,100 $23,800 $162,000 Inventories $26,000 Notes payable $18,900 Accounts payable $53,000 Long-term debt $447,800 OWNERS' EQUITY Retained earnings $82,200|Common stock Fixed assets Accumulated depreciation Intangible assets $181,800
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