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IPlease help me by indicating what I am missing here. Thank you Fincorp Inc. Statement of Cash Flows ($ in 000s) Cash flows from operations
IPlease help me by indicating what I am missing here. Thank you
Fincorp Inc. Statement of Cash Flows ($ in 000s) Cash flows from operations Net income $ 760 Noncash expenses Depreciation expense > EA 520 Changes in working capital Change in accounts payable Change in accounts receivable Change in inventories >>> 50 (50) (50) >> (50) 1,230 Total change in working capital Cash provided by operations Cash flows from investments Cash used for additions to property, plant and equipment (1,320) (1,320) Cash flows from financing activities Additions to long-term debt Dividends paid Reductions in notes payable >> 400 (410) (400) Cash used for financing activities Net decrease in cash and cash equivalents (410) (500) $ Check my work The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable + Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2018 $4,000 1,600 500 300 500 150 400 300 400 5,000 2,000 1,000 410 800 1 2019 $4,100 1,700 520 350 550 150 420 350 450 5,800 2,400 600 410 300 * Taxes are paid in their entirety in the year that the tax obligation is incurred. + Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign.)Step by Step Solution
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