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Cash flow identity. Use the data from the following financial statements in the popup window, The company paid interest expense of $17,100 for 2017
Cash flow identity. Use the data from the following financial statements in the popup window, The company paid interest expense of $17,100 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 Year Ending 2017 Sales revenue Cost of goods sold Fixed costs Selling, general, and administrative expenses Depreciation $350,000 $141,900 $43,000 $27,900 $45,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS Cash LIABILITIES $16,200 Notes payable $13,900 Accounts receivable $28,000 Accounts payable $19,000 Inventories $48,000 Long-term debt $190,000 Fixed assets $367,800 OWNERS' EQUITY Accumulated depreciation $143,500 Retained earnings Intangible assets $82,100 Common stock $132,000 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS Cash LIABILITIES $25,900 Notes payable $12,100 Accounts receivable $19,100 Accounts payable $23,900 Inventories $53,000 Long-term debt $162,100 Fixed assets $448,200 OWNERS' EQUITY Accumulated depreciation Retained earnings Intangible assets $82,100 Common stock $181,900
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