Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create a Statement of Cash Flows Create a statement of cash flow for the current year using Wright Co's income statement and balance sheet. (Do

image text in transcribed
image text in transcribed
Create a Statement of Cash Flows Create a statement of cash flow for the current year using Wright Co's income statement and balance sheet. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Income Statement: Current Year Revenue 4,516.00 Cost of Goods Sold 1,851.56 Gross Margin 2,664.44 SG&A 567.00 EBITDA 2,097.44 Depreciation Expense 509.00 EBIT 1.588.44 Interest Expense 189.45 EBT 1,399 Taxes 489.65 Net Income 909.34 Dividends 410 Addition to Retained 499.34 Earnings Balance Sheet: Assets Cash Accounts Receivables Inventory Total Current Assets Net Fixed Assets Total Asset Prior Year Current Year 800 777? 400 429.00 300 336.00 1,500 7??? 5,000 5,286.00 6,500 ???? Liabilities and Equity Prior Year Accounts Payable 300 Notes Payable 11,000 Total Current Liabilities 1.300 Long-Term Debt 2.000 Total Liabilities 3,300 Common Stock and Pald-in Capital 2,200 Retained Earnings 1.000 Total Equity 3,200 Total Liabilities & 6,500 Equity Current Year 303.00 1,089.00 1,392.00 2,700.00 1???? 2,200 1,499,34 ???? ???? Use SinCo's Income Statement and Balance Sheet to create a Statement of Cash Flows for the current year. What is Wright's Change in Working Capital What is Wright's Cash Flow from Operations What is Wright's Cash Flow from Investments What is Wright's Provide by Financing Actives What is Wright's Net change in cash What is Wright's Ending Cash Balance Does the 2014 Cash Balance from the Balance Sheet equal the Endina Cash Balance from the Statement of Cash Flows

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Theory And Practice

Authors: M. W. E. Glautier, Brian Underdown

7th Edition

0273651617, 978-0273651611

More Books

Students also viewed these Accounting questions