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Complete and upload TIF 13-3 TIF 13-3 Communication Tidewater Inc., a retailer, provided the following financial information for its most recent ris- cal year: 945,000
Complete and upload TIF 13-3
TIF 13-3 Communication Tidewater Inc., a retailer, provided the following financial information for its most recent ris- cal year: 945,000 8% Cash flows from operating activities.......... Cash flows from investing activities Cash flows from financing activities . (1,428,000) 600,000 900,000 . The company's Cash Flows from Operating Activities Section is as follows: 945,000 210,000 (1,134,000) (1,260,000) (189,000) Net cash flow from operating activities..... . . $(1,428,000) An examination of the financial statements revealed the following additional information: " Revenues increased during the year as a result of an aggressive marketing campaign aimed at increasing the number of new "Tidewater Card" credit card customers. This is the pany's branded credit card, which can only be used at Tidewater stores. The credit card balances are accounts receivable on Tidewater's balance sheet. - Some suppliers have made their merchandise available at a deep discount. As a result, the company purchased large quantities of these goods in an attempt to improve the company's profitability. In recent years, the company has struggled to pay its accounts payable on time. The company has improved on this during the past year and is nearly caught up on overdue payables balances. . The company reported net losses in each of the two prior years. Write a brief memo to your instructor evaluating the financial condition of Tidewater IncStep by Step Solution
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