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Need to create a statement of cash flows with the following info Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars)
Need to create a statement of cash flows with the following info
Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2019 2018 $ 1,200.0 1,020.0 180.0 $1,000.0 850.0 $ 150.0 25.0 30.0 $ 150.0 $ 125.0 Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization Earnings before interest and taxes (EBIT) Interest Earnings before taxes (EBT) Taxes (25%) Net income Common dividends 21.7 20.2 128.3 $ 104.8 32.1 26.2 $ 96.2 $ 78.6 $ 79.7 $ 61.3 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2019 2018 Assets Cash and equivalents $ 12.0 $ 10.0 Accounts receivable 180.0 150.0 Inventories 180.0 200.0 Total current assets $ 372.0 $360.0 Net plant and equipment 300.0 250.0 Total assets $672.0 $ 610.0 Liabilities and Equity Accounts payable $108.0 $ 90.0 Accruals 72.0 60.0 Notes payable 67.0 Total current liabilities $247.0 $ 201.5 Long-term bonds 150.0 150.0 Total liabilities $397.0 $ 351.5 Common stock (50 million shares) 50.0 50.0 Retained earnings 225.0 208.5 Common equity $275.0 $ 258.5 Total liabilities and equity $672.0 $610.0 51.5Step by Step Solution
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