Financial statements for Caloocan Lumber Yard Co. follow:

Caloocan Lumber Yard Co.

Balance Sheet: December 31

(millions of dollars)

2019 2020 2019 2020

Cash 2 2.5 Accounts Payable 4 5

Accounts Receivable 3.5 6 Notes Payable 2.5 2.5

Inventory 6 7.5 Accrued Wages 1 1.5

Net, fixed assets 20 19 Accrued Taxes 1.5 1

Total Assets 31.5 35 Long-term Debt 10 10

Common Stock 5 10

Retained Earnings 7.5 5

Total Liabilities and 31.5 35

and Net Worth

Caloocan Lumber Yard Co.

Income Statement: December 31, 2020

(millions of dollars)

Sales 50

Cost of Goods Sold 25

Selling and Administrative Expenses 7.5

Depreciation 1.5

Interest 1 35

Income before Tax 15

Taxes 5.25

Net Income 9.75

Required: In your solutions, prepare a CASH FLOW STATEMENT to support your answers on the following:

Note: No solutions, no credit

Net Cash Flow

Operating Activities

Investing Activities

Financing Activities

Financial statements for Caloocan Lumber Yard Co. follow: Caloocan Lumber Yard Co. Balance Sheet: December 31 (millions of dollars) Caloocan Lumber Yard Co. Income Statement: December 31, 2020 (millions of dollars) Required: In your solutions, prepare a CASH FLOW STATEMENT to support your answers on the following: Note: No solutions, no credit Net Cash Flow Operating Activities Investing Activities Financing Activities