please fill in the yellow and please show step by step of calculations so i know where those numbers came from. thank you!
2022 points 11 0.5 $60 $30 0.5 0.5 0.5 0.5 0.5 1 72 C. Construct the statement of cash flows for the most recent year. 73 74 Statement of Cash Flows 75 (in thousands of dollars) 76 77 Operating Activities 78 Net Income 79 Adjustments: 80 Noncash adjustment 81 Depreciation 82 Due to changes in working capital 83 Due to change in accounts receivable 84 Due to change in inventones 85 Due to change in accounts payable 86 Due to change in accruals 87 Net cash provided (used) by operating activities 88 89 Investing Activities 90 Cash used to acquire gross fixed assets 91 Due to change in short-term investments 92 Net cash provided (used) by investing activities 93 94 Financing Activities 95 Due to change in notes payable 96 Due to change in long-term debt 97 Due to change in common stock 38 Payment of common dividends 99 Net cash provided (used) by financing activities 100 101 Not increase/decrease in cash 102 Add Cash balance at the beginning of the year 103 Cash balance at the end of the year 104 106 Check cash balance in statement of cash flows should equal the cash 106 on balance sheets: this value should be zero 0.5 0.5 1 0.5 0.5 0.5 0.5 1 0.5 0.5 1 $70,000 9 a. Britton String Corp. manufactures specialty strings for musical instruments and tennis racquets. Its most recent sales were $880 million; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $300 million; depreciation amounted to 10% of net fixed assets; interest expenses were $22 3 million; the state plus-federal corporate tax rate was 25%; and it paid 40% of its net income out in dividends. Given this information, construct its income statement. Also calculate total dividends and the addition to 10 retained earnings, Report all dollar figures in millions. 11 12. The input information required for the problem is outlined in the "Key Input Data" section below. Using this data and the 13 balance sheet above, we constructed the income statement shown below 14 15 Key Input Data for Britton String Corp. 2022 16 (Millions of dollars) 17 Sales Revenue $880 18 Expenses (excluding depreciation) as a percent of sales 85.0% 19 Net fixed assets $300 20 Depr as a % of net fixed assets 10.0% 21 Tax rate 25.0% 22 Interest expense $22 23 Dividend Payout Ratio 40% 24 25 Britton String Corp.: Income Statement 2022 points 26 (Millions of dollars) 27 Sales $880 0.5 748 0.5 28. Operating costs excluding depreciation 29 EBITDA $132 0.5 30 Depreciation (Cumberland has no amortization charges 30 0.5 31 EBIT 5102 0.5 32 Interest expense 22 0.5 33 EBT $80 0.5 34. Taxon (25%) $20 0.5 35 Nel income $60 36 37 Common dividends $24 0.5 38 Addition to retained earnings 536 0.5 39 in merilhance that follow Britton Cillion of now.com stock in the most 39 40 b. Britton String's partial balance sheets follow. Britton issued $36 million of new common stock in the most 44 recent year. Using this information and the results from part a, fill in the missing values for common stock, 42 retained earnings, total common equity, and total liabilities and equity. 43 44. Dollar value of common stock issued (in millions of dollars) $36 45 46 Britton String Corp: December 31 Balance Sheets 47 (Millions of dollars) 48 2022 2021 49 Assets 50 Cash and cash equivalents $70 $60 51 Short-term investments 546 $42 52 Accounts Receivable $120 $140 53. Inventories $264 $196 54 Total current assets $500 5438 55 Net fixed assets $300 $262 56 Total assets $800 $700 57 58 Liabilities and equity 59 Accounts payable $73 564 60 Accruals $49 $60 61 Notes payable $30 $39 62 Total current liabilities 5152 5163 63 Long-term debt 5217 5178 points 64 Total liabilities $369 $341 65 Common stock $285 $249 56 Retained carings $146 $110 67 Total common equity $431 $259 60 Total abilities and equity $800 5700 59 70 Always check for balancing these should be zero $0.0000 50.0000 1 1
