Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For the given income statement, retained earning statement, and balance sheets, calculate the sources/uses of funds and fill in the entries in the cash flow

image text in transcribedimage text in transcribedimage text in transcribed For the given income statement, retained earning statement, and balance sheets, calculate the sources/uses of funds and fill in the entries in the cash flow statement below. 2018 Income Statement $(000). Revenue 2250 Warranty/ Bad Debt 30 Net Revenue 2220 COGS 1110 Contribution Margin 1110 SG\&A (incl depreciation) 900 Operating Income 210 Other Income 30 Net Income 240 2018 Retained Earnings Statement $(000). Retained Earnings, start of year 1050 Net Earnings for the year 240 Less: Dividend Paid 75 Retained Earnings, end of year 1215 Notes: 1. Calculate the required quantities to answer each of the blanks. 2. Express your quantities in your answer in thousands ($000). 3. Please answer all the blanks and type in " 0 " where you think there is no actual value. Operating Activities: Net Earnings for the Year Depreciation Changes in NCWC Subtotal: Investing Activities: Additions to Fixed Assets Additions to Goodwill and Intangibles Subtotal: Financing Activities: Dividends Net New Long Term Borrowings Net New Capital Shares Subtotal: Total Funds Flow Net cash on hand, start of year Net cash on hand, end of year Change in Cash Position: \begin{tabular}{rrr} Inventory & 75 & 135 \\ Prepaid Expenses & 15 & 15 \\ & 345 & 360 \end{tabular} Fixed Assets: Fixed Assets at Cost 30003450 \begin{tabular}{rcc} Less Acc. Depreciation & 600 & 675 \\ & 2400 & 2775 \\ Goodwill \& Intangibles & 0 & 0 \\ Total Assets & 2745 & 3135 \end{tabular} Current Liabilities: \begin{tabular}{rrr} S.T. Credit Line & 15 & 30 \\ Accounts Payable & 75 & 60 \\ Accrued Expenses & 15 & 15 \\ Cur. Por. of L.T. Debt & 75 & 75 \\ & 180 & 180 \end{tabular} Long_Term Liabilities: Long Term Debt 615540 Shareholders Equity: \begin{tabular}{ccc} Capital Shares & 900 & 1200 \\ Retained Earnings & 1050 & 1215 \\ Tot. Liab. and Eq. & 2745 & 3135 \end{tabular} Sources/Uses of funds Statement of Cash Flow \$(000) 2018 Operating 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

Development Of Accounting And Auditing Systems In China

Authors: Xu-Dong Ji

1st Edition

0415792886, 978-0415792882

More Books

Students also viewed these Accounting questions

Question

Identify the three general schools of counseling.

Answered: 1 week ago