Please, help me complete the homework. Financial statement analysis

General information 1. Turn in a hard copy at the beginning of class. 2. \"Consulting\" solution manuals or prior years' assignments is academic dishonesty. So is discussing your homework assignments with any classmates. 3. Be prepared to explain your answers in class. HW No. 2: Callaway Golf Case Callaway Golf Company designs, manufactures and sells high quality golf clubs and golf balls. The Company also sells golf accessories such as footwear, golf bags, golf gloves, golf headwear, golf towels and golf umbrellas. The Company's products are sold in the United States and in over 100 countries around the world. REQUIRED: 1. In which year (among those reported) did Callaway raise the most cash from financing activities? 2. If Callaway had not paid any dividends in 2003, 2004 and 2005, how much more cash from financing activities would have been raised over this three-year period? 3. What was the net book value of long-lived assets sold during 2005? 4. If Callaway had not sold any long-lived assets in 2005, how much would cash from investing activities have changed? 1 5. If Callaway had not sold any long-lived assets in 2005, how much would cash from operating activities have changed? 6. Callaway recognizes warranty expenses as a component of Selling Expenses on the income statement. Assume that Callaway's total costs (cash, replacement equipment, etc) in 2005 to satisfy customers who returned broken golf equipment under warranty was $15,000 thousands (i.e., $15 million). How much warranty expense was included in Selling Expenses by Callaway in their income statement during 2005? 7. In 2005, Callaway recognized and paid $26,989 in research and development expenses. All of the research was done internally by Callaway. Which section of the Statement of Cash Flows is affected by these expenditures? 2 8. Assume that all of Callaway's 2005 revenues were cash sales. How much cash did Callaway collect from its customers in 2005 from both cash sales and collections on accounts receivables? 9. Provide the journal entry to record Callaway's capital expenditures made in cash in 2005. Assume there were no capital expenditures through acquisitions. Include the account titles and amounts. 10. Assume that all of Callaway's inventory costs are paid in cash except for raw materials that are bought on account from suppliers (also assume that Accounts Payable reflect only raw material purchases). How much cash did Callaway spend on inventory costs in 2005? 3