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Please help answer. Thanks! Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is
Please help answer. Thanks!
Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is given. (Use a minus sign to indicate negative values. Round each entry to 2 decimal places.) Year 1 M 000 DO N ES n.a. Windswept Woodworks, Inc. Input Data (millions of dollars) Year 2 Accounts payable 496 Accounts receivable 1,340 Accumulated depreciation 6,806 Cash & equivalents 284 Common stock 1,244 Cost of goods sold 1,500 Depreciation expense Common stock dividends paid Interest expense 140 Inventory 1,074 Addition to retained earnings 602 Long-term debt 872 Notes payable 230 Gross plant & equipment 10,260 Retained earnings 3,122 Sales 3,018 Other current liabilities 116 Tax rate 34% Market price per share - year end $ 19.80 Number of shares outstanding 500.00 million n.a. 1,076 n.a. 786 380 10,000 2,526 n.a. 96 $ n.a. 17.50 500.00 million $ 827.64 Cash balance on December 31, year 1 Cash flows from operations Net income Add: depreciation expense Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in notes payable Increase in other current liabilities Total cash flow from operations Cash flows from investment activities Increase in gross plant and equipment U Long-term debt Notes payable Gross plant & equipment Retained earnings Sales Other current liabilities Tax rate Market price per share - year end Number of shares outstanding 872 230 10,260 3,122 3,018 116 34% 19.80 500.00 million 786 380 10,000 2,526 n.a. 96 n.a. 17.50 500.00 million $ $ $ 827.64 Cash balance on December 31, year 1 Cash flows from operations Net income Add: depreciation expense Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in notes payable Increase in other current liabilities Total cash flow from operations Cash flows from investment activities Increase in gross plant and equipment Total cash flow from investments Cash flows from financing activities Increase in long-term debt Increase in common stock Cash dividends paid to common stockholders Total cash flow from financing Net change in cash balance Cash balance on December 31, year 2 Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is given. (Use a minus sign to indicate negative values. Round each entry to 2 decimal places.) Year 1 M 000 DO N ES n.a. Windswept Woodworks, Inc. Input Data (millions of dollars) Year 2 Accounts payable 496 Accounts receivable 1,340 Accumulated depreciation 6,806 Cash & equivalents 284 Common stock 1,244 Cost of goods sold 1,500 Depreciation expense Common stock dividends paid Interest expense 140 Inventory 1,074 Addition to retained earnings 602 Long-term debt 872 Notes payable 230 Gross plant & equipment 10,260 Retained earnings 3,122 Sales 3,018 Other current liabilities 116 Tax rate 34% Market price per share - year end $ 19.80 Number of shares outstanding 500.00 million n.a. 1,076 n.a. 786 380 10,000 2,526 n.a. 96 $ n.a. 17.50 500.00 million $ 827.64 Cash balance on December 31, year 1 Cash flows from operations Net income Add: depreciation expense Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in notes payable Increase in other current liabilities Total cash flow from operations Cash flows from investment activities Increase in gross plant and equipment U Long-term debt Notes payable Gross plant & equipment Retained earnings Sales Other current liabilities Tax rate Market price per share - year end Number of shares outstanding 872 230 10,260 3,122 3,018 116 34% 19.80 500.00 million 786 380 10,000 2,526 n.a. 96 n.a. 17.50 500.00 million $ $ $ 827.64 Cash balance on December 31, year 1 Cash flows from operations Net income Add: depreciation expense Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in notes payable Increase in other current liabilities Total cash flow from operations Cash flows from investment activities Increase in gross plant and equipment Total cash flow from investments Cash flows from financing activities Increase in long-term debt Increase in common stock Cash dividends paid to common stockholders Total cash flow from financing Net change in cash balance Cash balance on December 31, year 2Step by Step Solution
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