Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consider the accounting data below for the Gibson Co. for 2021. The firm pays corporate taxes at the flat 21% Corporate Rate. 2021 Sales
Consider the accounting data below for the Gibson Co. for 2021. The firm pays corporate taxes at the flat 21% Corporate Rate. 2021 Sales 3,400,000 Costs 1,750,000 Depreciation 350,000 EBIT Interest Exp EBT 475,000 Taxes (21%) Net Income Dividends 250,000 Add to Ret Earn 2020 Cash 78,000 Accont Rec 650,000 Inventory 565,000 2021 67,000 630,000 485,000 Current Liab 2020 987,000 2021 1,087,000 Long-Term Debt 1,375,000 1,087,250 Current Assets Total Liab Net Fix Assets 2,975,000 3,350,000 Total Assets Common Stock 450,000 Retained Earn 1,456,000 500,000 Total Equity Total Liab & EQ What is the Cash Flow Fom Assets for 2021? What is the Change in Net Working Capital for 2021? [Present the answer rounded to the nearest dollar, e.g 359462]
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started