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How do I properly calculate the following questions in a cash flow statement? the year detail is not given Wally's Widgets Income Statements For the
How do I properly calculate the following questions in a cash flow statement?
the year detail is not given
Wally's Widgets Income Statements For the year ended December 31, 20xx Revenue Gross Sales Less: Sales returns and Discounts Net Sales 1,816 (10) 1,806 Cost of Goods Sold Beginning Inventory Purchas of Widgets Less: Ending Inventory Less: Cost of Goods Sold 0 1,000 50 (950) Gross Profit 856 30 0 0 0 10 106 146 Operating Expenses Selling Expenses Delivery Expenses Advertising Expenses Salaries Miscellaneous Expenses Sales Taxes Paid Total Selling Expenses General Admin. Expenses Rent Expenses Utilities Expenses Insurance Expenses Wages Permits and Licenses Depreciation Expenses Total General and Admin. Expenses 15 0 o 0 30 163 208 Less: Total Operating Expenses 354 Income Before Taxes Less: Income Taxes (@25%) Net Income after Taxes 502 126 376 Based on the scenario below and this Income Statement E. create a Cash Flow Statement using the Cash Flow Statement form to help you. Identify pertinent information and use it to fill in numbers on the cash flow statement below. Please round all figures to whole dollars. You may need to use scratch paper. Wally started a weekend widget stand on his landlord's front lawn with a $2000 inheritance (owner investment). He relied on his brightly-colored stand, drive-by traffic, and word-of-mouth to attract customers. The stand has a market value of $500. Wally paid his landlord $15 up front for a year of lawn space and spent another $150 on the stand, which has a lifespan of four years. The city heard about his scheme and charged him $30 for a permit. In his first year of business, Wally acquired 1000 widgets for $1.00 each and sold all but 50 of them at 80% markup. Due to a defect in some of the product, he discounted a total of $10. Additional costs included $30.00 in UPS bills and $10.00 for 1000 bags. Sales tax amounted to $106. The Marginal Tax Rate (MTR) is 25%. Based on the given Wally's Widgets scenario and the Cash Flow Statement you already created, fill in the numbers below. DO NOT use the dollar sign, numbers only and no decimals. Make sure to include parenthesis when necessary. Wally's Widgets Cash Flow Statement For the year ended December 31, 20xx Operating Activities Net Sales to Customers Accounts Receivable from Customers 2010 Payments for Total Operating Expenses Add Depreciation Expenses Taken Add Accounts Payable for Current Year Payments for 2010 Income Taxes Payments for 2011 Income Taxes Payments for Inventory Net Cash Flows from Operating Activities Net Cash Flows from Operating Activities Investing Activities Proceeds from the sale of property, plan, and equipment Purchased Property, Plant, and Equipment Net Cash Flows from Investing Activities Financing Activities Owner Investment Owner Withdrawals Repayment of Long-term Debt Net Cash Flows from Financing Activities Changes in Cash Balance Net Change in Cash for Current Year Add: Beginning Cash Balance Ending Cash Balance Step by Step Solution
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