Question
Find the balance sheet and income statement information for Inc. (a) Calculate Owners Equity for both 2017 and 2018.(b) What is the Net Working Capital
Find the balance sheet and income statement information for Inc.
(a) Calculate Owners Equity for both 2017 and 2018.(b) What is the Net Working Capital from the beginning of 2018 to the end? (c) What is the Net Capital Spending in 2018? (d) Calculate Cash Flow (CF) from Assets for 2018
Balance Sheet 2017 2018 Income Stmt. 2018
Assets Sales $19,800
Cash $11,310 $10,590 Cost of Goods Sold $10,500
Accts. Receivable $2,900 $2,300 SG&A Expenses $1,500
Inventory $440 $1,150 Marketing Expenses $1,100
Net Fixed Assets $6,360 $7,080 Depreciation Exp. $1,500
Liabilities Operating Income $5,200
Accounts Payable $11,020 $10,550 Interest Exp. $400
Taxes Payable $900 $960 Taxable Income $4,800
Longterm Notes $1,280 $980 Tax Expense* $960
Longterm Bonds $1,850 $2,730 Net Income $3,840
Owners Equity Dividend Exp. $4,100
Common Stock $5,000 $5,200
Retained Earnings $960 _ _ _ _ * the average tax rate is 20%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started