Question
Create a statement of cash flow (indirect method) with this information. Balance Sheet 2015 Current Assets Cash $42,200 Notes Receivable $16,000 Accounts Receivable $41,800 Less:
Create a statement of cash flow (indirect method) with this information.
Balance Sheet 2015
Current Assets
Cash $42,200
Notes Receivable $16,000
Accounts Receivable $41,800
Less: Allowance for Doubtful Accounts ($3000)
Inventories $38,800
Prepaid Insurance $540
Prepaid Rent $600
Total Current Assets $136,940
Non-Current Assets
Long-term Investments
Investments in held for maturity securities $52,000
Land held for future development $45,500
Property, Plant, Equipment
Land $85,000
Buildings $675,000
Less: Accumulated Depreciation ($183,118)
Intangible Assets
Capitalized Development Costs $8,000
Goodwill $76,700
Other Identifiable Intangible Assets $48,000
Total Non-Current Assets $802,700
Total Assets $939,640
Current Liabilities
Notes Payable $110,000
Accounts Payable $32,000
Unearned Revenues $13,500
Income Taxes Payable $8,440
Property Taxes Payable $6,600
Interest Payable $1,500
Total Current Liabilities $172,040
Non-Current Liabilities
Provisions Related to Pensions $84,100
Bonds Payable $300,000
Total Non-Current Liabilities $384,100
Total Liabilities $556,140
Stockholders Equity
Common Stock $100,000
Preferred Stock $100,000
Paid-in-capital Common Stock $27,500
Paid-in-capital Preferred Stock $10,000
Retained Earnings $152,750
Accumulated Other Comprehensive Income $6,000
Less: Treasury Stock ($12,750)
Total Stockholders Equity $383,500
Total Liabilities & Stockholders Equity $936,640
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Balance Sheet 2016
Current Assets
Cash $42,200
Notes Receivable $16,000
Accounts Receivable $41,000
Less: Allowance for Doubtful Accounts ($900)
Inventories $40,146
Prepaid Insurance $540
Prepaid Rent $600
Total Current Assets $139,586
Non-Current Assets
Long-term Investments
Investments in held for maturity securities $52,000
Land held for future development $45,000
Property, Plant, Equipment
Land $80,000
Buildings $674,000
Less: Accumulated Depreciation ($183,118)
Intangible Assets
Capitalized Development Costs $8,000
Goodwill $76,000
Other Identifiable Intangible Assets $48,000
Total Non-Current Assets $799,882
Total Assets $939,468
Current Liabilities
Notes Payable $110,000
Accounts Payable $32,000
Unearned Revenues $13,500
Income Taxes Payable $8,440
Property Taxes Payable $6,600
Interest Payable $8,440
Total Current Liabilities $178,980
Non-Current Liabilities
Provisions Related to Pensions $84,100
Bonds Payable $300,000
Total Non-Current Liabilities $384,100
Total Liabilities $563,080
Stockholders Equity
Common Stock $100,000
Preferred Stock $100,000
Paid-in-capital Common Stock $27,500
Paid-in-capital Preferred Stock $10,000
Retained Earnings $152,750
Accumulated Other Comprehensive Income $6,000
Less: Treasury Stock ($20,462)
Total Stockholders Equity $375,788
Total Liabilities & Stockholders Equity $939,468
Income Statement
| 1. Sales | 100,000 |
| 2. Cost of Goods Sold | 36,510 |
| 3. Gross Profit | 63,490 |
| 4. Depreciation | 13,250 |
| 5. Interest | 1,500 |
| 6. Earnings Available to Common Shareholders | 62,590 |
| 7. Dividends | 900 |
| 8. Net Income | 63,490 |
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