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In its 2011 income statement, XYZ inc. reported net income of $1190 and on its 2012 income statement the company reported net income of $2490.
In its 2011 income statement, XYZ inc. reported net income of $1190 and on its 2012 income statement the company reported net income of $2490. Based on this information and the following balance sheet, calculate NET CASH FLOWS FROM FINANCING ACTIVITIES in 2012
2011 2012 Cash 200 100 800 Accounts receivable 1,400 Inventory 3,600 3,100 Current assets 4,600 4,600 Gross fixed assets 22,000 31,000 (14,000) (12.000) (Accumulated depreciation) Net fixed assets 10,000 17,000 14,600 21,600 Total assets Notes payable 100 400 600 Accounts payable 300 200 Accruals 800 Current portion of LT Debt 1,400 Current liabilities 1,600 2,200 Long-term debt 1,200 2,800 Common stock 2,100 3,400 Additional paid in capital 11,900 8,600 Retained earnings 1,100 1,300 Total liabilities and equity 14,600 21,600Step by Step Solution
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