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Just need the answer for issue of stock. Thank you! The below tables shows Dynamic Mattress's year-end 2016 and 2018 balance sheets, and its income
Just need the answer for issue of stock. Thank you!
The below tables shows Dynamic Mattress's year-end 2016 and 2018 balance sheets, and its income statement for 2017 Assets Current Assets: Cash Marketable securities Accounts receivable Inventory Total current assets Dynamic Mattress Year-End Balance Sheet for 2016 (figures in $ millions) Liabilities and Shareholders' Equity Current Liabilities: $ 42 Bank loans 21 Accounts payable 121 205 Total current liabilities $ 42 130 $ 389 $ 172 Fixed assets: Gross investment Less depreciation Net fixed assets Total assets $ 261 81 $ 180 $ 569 Long-term debt Net worth (equity and retained earnings) 36 361 Total liabilities and net worth $ 569 Assets Current Assets: Cash Marketable securities Accounts receivable Inventory Total current assets Dynamic Mattress Year-End Balance Sheet for 2017 (figures in $ millions) Liabilities and Shareholders' Equity Current Liabilities: $ 152.0 Debt due within a year (bank loans) 0.0 Accounts payable 146.0 249.0 $ 547.0 Total current liabilities $ 58.0 176.0 $ 234.0 Fixed assets: Gross investment Less depreciation Net fixed assets Total assets $ 367.0 87.5 $ 279.5 $ 826.5 Long-term debt Net worth (equity and retained earnings) 82.0 510.5 Total liabilities and owners' equity $ 826.5 Dynamic Mattress Income Statement for 2017 (figures in $ millions) Sales $1,511.0 Operating costs 1,419.5 $ 91.5 Depreciation 17.5 EBIT $ 74.0 Interest Pretax income $ $ 58.0 Tax at 50% 29.0 Net income $ 29.0 16.0 Notes: Dividend = $85 million and reinvested earnings = $65 million. Use the tables above to work out the statement of cash flows for 2017. (Enter your answers in millions of dollars rounded to 1 decimal place.) Answer is not complete. Dynamic Mattress (figures in $ millions) Sources of cash: Sold marketable securities Increased bank loans Increased accounts payable Increased long-term debt IS 21.0 16.0 46.0 46.0 Net income 29.0 Issue of stock Nonrocintion 175Step by Step Solution
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