Financial Decisions - Chapter 1 Sources and Uses of Cash Worksheet

Prepare a Sources and Uses of Cash Statement for the Locksley Company from Year 1 through Year 2.

Locksley Company - Years 1 and 2 Balance Sheet Excerpts:

Account Year I Year 2 Cash 45,000 50,000

Accounts Receivable 110,000 60,000

Inventory 122,000 165,000

Prepaid Expenses 10,000 83,000

Net Fixed Assets 325,000 395,000

Accounts Payable 70,000 76,000

Long-term Debt 275,000 325,000

Retained Earnings 100,000 185,000

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