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Create a statement of cash flows for the year 2019 2019 2018 Sales 11,000 10,000 COGS 9,322 8,448 Gross Profit 1,678 1,552 Depreciation and amortization
Create a statement of cash flows for the year 2019
| 2019 | 2018 | |
| Sales | 11,000 | 10,000 |
| COGS | 9,322 | 8,448 |
| Gross Profit | 1,678 | 1,552 |
| Depreciation and amortization | 380 | 360 |
| Selling & Admin. Expense | 290 | 280 |
| Earnings before interest and taxes | 1,008 | 912 |
| Interest expense | 120 | 100 |
| Earnings Before taxes | 888 | 812 |
| Taxes | 222 | 203 |
| Net income | 666 | 609 |
| Note: | ||
| Tax rate | 25% |
| 2019 | 2018 | |
| Assets | ||
| Cash | 550 | 500 |
| Short-term Investments | 110 | 100 |
| Accounts Receivable | 2,750 | 2,500 |
| Inventories | 1,650 | 1,500 |
| Total current assets | 5,060 | 4,600 |
| Gross plant and equipment | 4,813 | 4,375 |
| Accumulated Depreciation | 963 | 875 |
| Net Plant and equipment | 3,850 | 3,500 |
| Total Assets | 8,910 | 8,100 |
| Liabilities & Owner's Equity | ||
| Accounts Payable | 1,100 | 1,000 |
| Accruals | 550 | 500 |
| Notes Payable | 384 | 200 |
| Total current Liabilities | 2,034 | 1,700 |
| Long-term debt | 1,100 | 1,000 |
| Total liabilities | 3,134 | 2,700 |
| Common Stock | 4,312 | 4,400 |
| Retained Earnings | 1,464 | 1,000 |
| Total common equity | 5,776 | 5,400 |
| Total liabilities and equity | 8,910 | 8,100 |
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