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Please find enclosed the balance sheet for 2015 and 2016 for Company ABC. In 2016, the company paid $5,000 in preferred share dividends and offered
Please find enclosed the balance sheet for 2015 and 2016 for Company ABC. In 2016, the company paid $5,000 in preferred share dividends and offered no common share dividends. Additionally, it achieved an operating profit equal to $5,100 in 2016. Prepare the cash flow statement for the company for 2016. As of December 31 2015 2016 Assets Cash 5,534 9,037 Marketable Securities 952 1,801 Accounts Receivable, Gross 14,956 16,110 Less: Allowance for Bad Debts 211 167 Accounts Receivable, Net 14,745 15,943 Inventory 10,733 11,574 Prepaid Expenses 3,234 2,357 Property, Plant, and Equipment, Gross 57,340 60,374 Less: Accumulated Amortization 29,080 32,478 Property, Plant, and Equipment, Net 28,260 27,896 Land 1,010 1,007 Long-Term Assets 2,503 4,743 Total Assets 66,971 74,358 Liabilities Accounts Payable 3,253 2,450 Notes Payable - - Accrued Expenses 6,821 7,330 Long-Term Debt 2,389 2,112 Shareholders' Equity Common Shares 8,549 10,879 Preferred Shares 5,000 5,000 Retained Earnings 40,959 46,587 Total Liabilities and Equity 66,971 74,358 1a. Calculate the change in cash flow in 2016. b. What is the cash balance at the end of 2016?
Please find enclosed the balance sheet for 2015 and 2016 for Company ABC. In 2016, the company paid $5,000 in preferred share dividends and offered no common share dividends. Additionally, it achieved an operating profit equal to $5,100 in 2016. Prepare the cash flow statement for the company for 2016.
As of December 31
2015
2016
Assets
Cash
5,534
9,037
Marketable Securities
952
1,801
Accounts Receivable, Gross
14,956
16,110
Less: Allowance for Bad Debts
211
167
Accounts Receivable, Net
14,745
15,943
Inventory
10,733
11,574
Prepaid Expenses
3,234
2,357
Property, Plant, and Equipment, Gross
57,340
60,374
Less: Accumulated Amortization
29,080
32,478
Property, Plant, and Equipment, Net
28,260
27,896
Land
1,010
1,007
Long-Term Assets
2,503
4,743
Total Assets
66,971
74,358
Liabilities
Accounts Payable
3,253
2,450
Notes Payable
-
-
Accrued Expenses
6,821
7,330
Long-Term Debt
2,389
2,112
Shareholders' Equity
Common Shares
8,549
10,879
Preferred Shares
5,000
5,000
Retained Earnings
40,959
46,587
Total Liabilities and Equity
66,971
74,358
1a. Calculate the change in cash flow in 2016.
b. What is the cash balance at the end of 2016?
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International Financial Reporting
Authors: Alan Melville
7th Edition
1292293128, 9781292293127
