Question
NOTE: Although this problem is similar to the previous and/or next problem, some elements differ such that you must solve the answer for this problem
NOTE: Although this problem is similar to the previous and/or next problem, some elements differ such that you must solve the answer for this problem independent of your answer to any other questions.
Momber's Flooring Company | ||||
2011 | 2012 | |||
Cash | 500 | 800 | ||
Accounts receivable | 1,400 | 1,200 | ||
Inventory | 3,900 | 4,400 | ||
Net fixed assets | 8,200 | 8,200 | ||
Land | 1,000 | 2,000 | ||
Total Assets | 15,000 | 16,600 | ||
Notes payable | 1,000 | 600 | ||
Accounts payable | 3,000 | 2,000 | ||
Accruals | 500 | 900 | ||
Long-term debt | 3,600 | 5,400 | ||
Common Stock | 2,500 | 2,200 | ||
Retained earnings | 4,400 | 5,500 | ||
Total Liabilities and Equity | 15,000 | 16,600 |
Given the Balance Sheets for Momber's Flooring Company above for the years ending December 31, 2011 and 2012, find Net Cash Flows from Operating Activities for 2012 assuming the following income statement data:
Net income (2012) = $4,550 and Depreciation (2012) = $815
Round your answer as a whole number and record without a dollar sign and without commas. For example, record $3,204.854 as 3205. To show a negative cash flow (i.e., a net cash outflow), place a negative sign before your answer with no space between the negative sign and the number. Thus, record negative 5,432 as -5432.
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