Question
Coca-Cola Company Financial Report for 2022: Income Statement: Item Amount Sales $20,000,000 Cost of Goods Sold $13,000,000 Operating Expenses $4,000,000 (Including Depreciation: $450,000) Interest Expense
Coca-Cola Company Financial Report for 2022:
Income Statement:
Item | Amount |
Sales | $20,000,000 |
Cost of Goods Sold | $13,000,000 |
Operating Expenses | $4,000,000 (Including Depreciation: $450,000) |
Interest Expense | $130,000 |
Gain on Sale of Equipment | $105,000 |
Income Tax Expense | $280,000 |
Balance Sheet:
Item | 12/31/2022 | 12/31/2021 |
Cash | $2,000,000 | $1,400,000 |
Accounts Receivable | $700,000 | $650,000 |
Inventory | $1,300,000 | $1,200,000 |
Accounts Payable | $800,000 | $750,000 |
Additional Information:
Equipment sold for $400,000 (original cost $500,000, carrying value $320,000).
New equipment purchased for $350,000.
Dividends declared and paid: $500,000.
Treasury shares purchased: 3,000 shares for $300,000.
Requirements:
Calculate cash flows from operating activities.
Calculate cash flows from investing activities.
Calculate cash flows from financing activities.
Determine the ending cash balance.
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