Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fill in all missing data in the income statement and balance sheets. Then calculate the 2017 statement of cash flows. INCOME STATEMENT, 2017 Revenues COGS

image text in transcribedimage text in transcribedimage text in transcribed

Fill in all missing data in the income statement and balance sheets. Then calculate the 2017 statement of cash flows. INCOME STATEMENT, 2017 Revenues COGS EXCLUDING DEPRE DEPRECIATION Expenses EXCLUDING Interest EBIT Interest EBT Tax @ 40% Net Income 550 50 50 50 BALANCE SHEET, 12/31/17 BALANCE SHEET, 12/31/16 30 40 80 150 Cash A/R 50 Invento Current Assets Gross PP&E Net PP&E Total Assets 200 800 900 150 750 900 A/P Accruals Short Term Debt Current Lia 30 20 50 100 10 80 100 Long Term Debt 350 300 Total Liabilities 450 400 Common Stock Retained Earnings Tot. Com. Equity 100 400 500 # of Common Sh 100 100 Interest Coverage (Times Interest Earned)-7 DSO- 18.25 days Current Ratio -2 Cash From Operating Activities: Cash Erom Investing Activities: Cash Erom Financing Activities

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

Principles Of Financial Accounting

Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel

3rd Edition

0730302296, 978-0730302292

More Books

Students also viewed these Accounting questions

Question

What impact is this having on you?

Answered: 1 week ago