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Lots to Gain Corporation LGC Income Statement for 2021 Sales Cost of Goods Sold Depreciation Other operating expenses Earnings before Interest and Taxes Interest Paid
Lots to Gain Corporation LGC Income Statement for 2021 Sales Cost of Goods Sold Depreciation Other operating expenses Earnings before Interest and Taxes Interest Paid Earnings before Taxes Taxes Net Income $600,000 225,000 90,000 126,000 159,000 10,440 148,560 31,198 $117.362 2021 Ratios Quick Ratio Current Ratio Net Working Capital / Total Assets Account Receivables Turnover Inventory Turnover Debt/equity ratio Profit Margin Total Asset Turnover Equity Multiplier Peers 5.71 14.26 0.19 14.12 1.29 0.07 0.19 0.80 0.93 Dividends Paid Addition to Retained Earnings $75,000 $42,362 2020 Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Balance Sheet for 2021 and 2020 2021 $51,000 $60,000 Accounts Payable 34,000 28,000 Notes Payable 140,000 125,000 Total Current Liabilities 225,000 213,000 Long Term Debt 1,274,962 1,168,050 Common Stock Paid-in-surplus Retained Earnings $1,499,962 $1,381,050 Total Liab.& Equity 2021 2020 $12,000 $14,000 4,000 4,650 16,000 18,650 156,600 104,400 55,000 50,000 980000 958,000 292,362 250,000 $1,499,962 $1,381,050 Total Assets 2. Still using the attached financial statements for Lots to Gain Corporation (LGC), answer the following questions: (Total 10 points) a. What is the operating cash flow for LGC? (5 points) b. What is the cash flow form assets for LGC? (5 points)
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