Question
Company has the following income statement and balance sheet for 12-31-21: Carter Company Income Statement For the year ending December 31, 2021 Sales 1,500 Cost
Company has the following income statement and balance sheet for 12-31-21:
Carter Company
Income Statement
For the year ending December 31, 2021
Sales | 1,500 |
Cost of Goods Sold | 600 |
Gross Profit | 900 |
Operating Expenses | 700 |
Depreciation Expense | 5 |
Operating Income | 195 |
Gain on Sale of Asset | 5 |
Net Income | 200 |
Carter Company
Balance Sheet
As of December 31, 2021 and 2020
| 2021 | 2020 |
Cash | 250 | 100 |
Accounts Receivable | 150 | 50 |
Inventory | 25 | 50 |
Total Current Assets | 425 | 200 |
Equipment | 95 | 100 |
Accumulated Depreciation | (25) | (25) |
Total Assets | 495 | 275 |
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Accounts Payable (current) | 100 | 75 |
Bonds Payable (long-term) | 120 | 100 |
Total Liabilities | 220 | 175 |
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Common Stock | 10 | 10 |
Retained Earnings | 265 | 90 |
Total Equity | 275 | 100 |
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Total Liabilities and Equity | 495 | 275 |
Additional Relevant Information
- Equipment that cost $20 with accumulated depreciation of $5 was sold for $20.
- The company borrowed $20 via a bond payable.
- The company paid $15 for new equipment.
- The company declared and paid a $25 dividend.
Required
Questions | Answers |
What is the cash flow from operating activities? |
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What is the cash flow from investing activities? |
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What is the cash flow from financing activities? |
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What is the net cash increase? |
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Does your last answer match the increase in cash shown on the balance sheet? |
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