Question
Hi Expert, I need some help for the below questions. You must do the balance sheet questions related to Allied Foods below. Do at least
Hi Expert, I need some help for the below questions.
You must do the balance sheet questions related to Allied Foods below. Do at least 66% of the rest of the problems, and try to do all!
1. Use the following information for Allied Food:
2015 2014
Common Stock and other paid in capital 614 644
Cash and Marketable Securities 1651 1716
Other Assets 4670 6888
Sales 35753
Debt Due for Repayment 274 2889
Accounts Receivables 3725 3261
Cost of Goods Sold 15762
Accounts Payables 5271 5357
Inventories 1926 1693
Selling, General, and Admin Expenses 11357
Long Term Debt 2550 2313
Deferred Income Taxes 528 1434
Other Current Assets 1828 3784
Depreciation 1406
Gross Plant, Property, and Equipment 19058 16646
Other Long term Liabilities 4624 4323
Accumulated Retained Earnings 22591 18803
Accumulated Depreciation 9371 7965
Interest Expense 239
Taxes 1347
Goodwill 4594 4088
Other intangible Assets 1849 1616
Addition to Retained Earnings 3788
Other Current Liabilities 1315 1160
Treasury Stock Buyback (7837) (5196)
Hint: Treasury stock buyback represents the amount Allied spent on buying back its shares. The money used to repurchase them goes out of the firm and reduces shareholders equity.
(a) Compile an income statement and balance sheet for 2015.
(b) Show the impact of the following line items on the statement of cash flows for 2015. You should show the specific sub-statement, the amount, and the effect on the cash position.
Please provide the steps, so that I can understand the process. Thank you in advance
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