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General Motors Financial Highlights for 2022: Income Statement: Item Amount Revenue $28,000,000 Cost of Goods Sold : $18,200,000 Operating Expenses : $6,000,000 (Including Depreciation: $550,000)

General Motors Financial Highlights for 2022:

Income Statement:

Item

Amount

Revenue

$28,000,000

Cost of Goods Sold: $18,200,000

Operating Expenses: $6,000,000 (Including Depreciation: $550,000)

Interest Expense: $160,000

Gain on Sale of Equipment: $135,000

Income Tax Expense: $320,000

Balance Sheet:

Item

12/31/2022

12/31/2021

Cash

$3,000,000

$2,200,000

Accounts Receivable

$800,000

$750,000

Inventory

$1,600,000

$1,450,000

Accounts Payable

$900,000

$850,000

Additional Information:

Equipment sold for $500,000 (original cost $650,000, carrying value $410,000).

New equipment purchased for $450,000.

Dividends declared and paid: $650,000.

Treasury shares purchased: 4,000 shares for $400,000.

Requirements:

Calculate cash flows from operating activities.

Calculate cash flows from investing activities.

Calculate cash flows from financing activities.

Determine the ending cash balance.

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