Question
Johnson & Johnson Income Statement for 2022: Item Amount Sales $6,000,000 Cost of Goods Sold $3,800,000 Selling and Admin Expenses $1,500,000 (Including Depreciation: $200,000) Interest
Johnson & Johnson Income Statement for 2022:
Item | Amount |
Sales | $6,000,000 |
Cost of Goods Sold | $3,800,000 |
Selling and Admin Expenses | $1,500,000 (Including Depreciation: $200,000) |
Interest Expense | $55,000 |
Gain on Sale of Equipment | $45,000 |
Income Tax Expense | $150,000 |
Balance Sheet Data:
Item | 12/31/2022 | 12/31/2021 |
Cash | $750,000 | $500,000 |
Accounts Receivable | $320,000 | $270,000 |
Inventory | $600,000 | $540,000 |
Accounts Payable | $420,000 | $380,000 |
Additional Information:
Equipment sold for $180,000 (original cost $250,000, carrying value $160,000).
New equipment purchased for $100,000.
Dividends declared and paid: $200,000.
Treasury shares purchased: 800 shares for $80,000.
Requirements:
Compute cash flows from operating activities.
Compute cash flows from investing activities.
Compute cash flows from financing activities.
Compute ending cash balance.
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