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Need help with using the following data to create a common-sized balance sheet. XYZ Bank told Bob to increase cash to $70,000 from 2016 to
Need help with using the following data to create a common-sized balance sheet.
XYZ Bank told Bob to increase cash to $70,000 from 2016 to 2017. But cash increased from $16,566 in 2016 to just $33,411 in 2017, well short of $70,000. In this assignment, you will review six select changes in the Balance Sheet accounts, highlighted in yellow, to better understand how these individual account changes impact overall cash flows. Needed to foot the Cash Flow Statement all the way 2017 and 2016 Comparative back to 2017 cash position. Net Income $3,155,848 ASSETS 2017 2016 Depreciation 212,366 Items 1 to 6. Note the $ value $ Dividends Paid effect on Cash. Did the change in 2,966,412 balances from one year to the Tax 225,700 next create (+) or 'use' (-) cash? Note the accounting or finance issue related to each of the six Cash $ $ 33,411 $ $ 16,566 accounts reviewed. Accounts Receivable S 260,205 $ 378,768 Inventory $ 423,879 $ 352,740 71,079 Other current assets Total Current Assets $ S 41.251 758.686 $ S 29,912 $ 717,986 S (11.339) (40,700) Plant Property and Equipment $ 1,512,675 1.403.220 109,455 Goodwill and other assets Total Assets $ S $ S 382.145 2.653,506 412,565 $ 2.533.771 30,420 (119.735) LIABILITIES AND EQUITY Accounts Payable $ 378,236 332,004 46,232 Wages Pavable Accrued income taxes Total Current Liabilities s 14,487 S 7,862 $ 21.125 $ 16,815 $ $ $ 413.848 413.848 $ $ 356,681 $ 6,625 4,310 57,167 Long-Term Debt: Bank Notes $ 679.981 793.575 (113,534) Total Liabilities Total Common Equity Total Liabilities and Equity S $ S 1,093.829 1.559.677 2.653.506 S $ S S 1,150.196 1,383,575 2.5333.771 (56,367) 176,102 119.735
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