Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Construct the cashflow statements (Cashflow from operations, investing, & financing with the following data and verify the change in cash is equal to the sums
Construct the cashflow statements (Cashflow from operations, investing, & financing with the following data and verify the change in cash is equal to the sums of the cash flows for every year. Meaning..
1993-1994 | 1994-1995 | |
Change In Cash | -32 | -24 |
CFO+CFI+CFF | -32 | -24 |
Below is the data.
Exhibit 3 | |||
Balance sheets, FYE 1/31 | |||
(thousands of DM) | |||
1993 | 1994 | 1995 | |
Cash | 136 | 104 | 80 |
Accounts receivable, net | 2,447 | 2,833 | 2,798 |
Inventory | 2,916 | 2,908 | 2,916 |
Current Assets | 5,499 | 5,845 | 5,794 |
Land | 567 | 567 | 567 |
Buildings, fixtures, and equipment | 2,167 | 2,188 | 2,518 |
Less: Reserve for depreciation | 304 | 463 | 631 |
Net buildings, fixtures, and equipment | 1,863 | 1,725 | 1,887 |
Investments | 104 | 104 | 104 |
Due from stockholders | - | 344 | 463 |
Deferred charges | 64 | 32 | 32 |
Total assets | 8,097 | 8,617 | 8,847 |
Accounts payable | 1,382 | 1,390 | 1,478 |
Notes payable, employees | 112 | 128 | 128 |
Estimated federal income tax | 104 | - | - |
Current maturities on long-term debts | 248 | 575 | 352 |
Miscellaneous accruals | 586 | 660 | 329 |
Current liabilities | 2,432 | 2,753 | 2,287 |
Notes payable, bank | 871 | 1,438 | 1,398 |
Mortgage loan | 3,611 | 3,595 | 4,202 |
Capital stock | 879 | 879 | 1,063 |
Earned surplus (deficit) | 304 | (48) | (103) |
Total liabilities and net worth | 8,097 | 8,617 | 8,847 |
Exhibit 4 | |||
Income Statements for FYE 1/31 | |||
(thousands of DM) | |||
1993 | 1994 | 1995 | |
Sales | 18,647 | 15,179 | 14,397 |
Less: Returns and allowances | 1,678 | 1,782 | 1,166 |
Net sales | 16,969 | 13,397 | 13,231 |
Cost of goods sold | 10,322 | 8,189 | 8,237 |
Gross profit | 6,647 | 5,208 | 4,994 |
Less: Operating expenses | 5,704 | 4,937 | 4,778 |
Operating profit | 943 | 271 | 216 |
Other income | 639 | 104 | 136 |
Net after other income | 1,582 | 375 | 352 |
Other deductions | 383 | 391 | 407 |
Net profit (loss) before tax | 1,199 | (16) | (55) |
Dividends paid | 336 | 336 | - |
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