Latigoe Inc. has the following financial statements for 20X8. In addition, the company paid stockholders dividends of $2.9 million and received $4.8 million from the sale of new stock. No fixed assets were retired during the year. (Hint: That implies that fiexed asset purchases and depreciation are equal to teh changes in the gross fixed asset and accumulated depreciation accounts.) Construct Latigoe's statement of cash flows for 20X8.

A Business Statement of Cash Flows: Concept Connection Example 3-1 (page 79) 3. Latigoe Inc. has the following financial statements for 20X8. In addition, the companu in Bala a detail of changes ny paid stocd holders dividends of S2.9 million and received $4.8 million from the sale of new socl assets were retired during the year. (Hint: That implies that fixed asset purchases and are equal to the changes in the gross fixed asset and accumulated depreciation accounts Latigoe Inc. Balance Sheet For the period ended 12/31/X8 ($000) ASSETS Cash Accounts receivable Inventory CURRENT ASSETS Fixed assets 12/31/X7 3,245 7,943 12,408 $ 23,596 12/31/x8 $ 2,647 5,614 13,653 $21,914 Gross Accumulated depreciation Net $66,098 (47,040) $19,058 42,654 $ 72,166 (51,308) $20,858 TOTAL ASSETS $42,772 Chapter 3 Csh Flows and Financial Analysis Latigoe Inc LIABILITIES Accounts payable Accruals CURRENT LIABILITIES $ 1,699 950 649 $ 9,007 30,998 $40,005 5 2,208 Long-term debt Equity TOTAL CAPITAL $ 1,352 38,458 $ 39,810 TOTAL LIABLITIES AND EQUITY $42,654 $42,772 Latigoe Inc Income Statement For the period ended 12/31/x8 ($000) Sales COGS Gross margin Depreciation Expense EBIT Interest EBT Tax $67,916 35,281 $32,635 4,268 $18,004 $10,363 1,096 $ 9,267 3,707 $ 5,560 Net income Construct Latigoe's statement of cash flows for 20X8