Question
Ford Motor Company Financials for the Year Ended 2022: Profit & Loss Account: Item Amount Sales $25,000,000 Cost of Goods Sold $16,500,000 Operating Expenses $5,500,000
Ford Motor Company Financials for the Year Ended 2022:
Profit & Loss Account:
Item | Amount |
Sales | $25,000,000 |
Cost of Goods Sold | $16,500,000 |
Operating Expenses | $5,500,000 (Depreciation: $500,000) |
Interest Expense | $150,000 |
Gain on Sale of Equipment | $125,000 |
Income Tax Expense | $300,000 |
Balance Sheet Items:
Item | 12/31/2022 | 12/31/2021 |
Cash | $2,500,000 | $1,800,000 |
Accounts Receivable | $750,000 | $700,000 |
Inventory | $1,500,000 | $1,350,000 |
Accounts Payable | $850,000 | $800,000 |
Additional Information:
Equipment sold for $450,000 (original cost $600,000, carrying value $380,000).
New equipment purchased for $400,000.
Dividends declared and paid: $600,000.
Treasury shares purchased: 3,500 shares for $350,000.
Requirements:
Compute cash flows from operating activities.
Compute cash flows from investing activities.
Compute cash flows from financing activities.
Compute the ending cash balance.
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