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Please show all work. Please show all work. PROBLEM (32 MARKS) Use the below information from Bakers Inc.'s year-end financial statements to answer the following
Please show all work.
Please show all work.
PROBLEM (32 MARKS) Use the below information from Bakers Inc.'s year-end financial statements to answer the following questions. Bakers Inc's applicable tax rate is 34%. Sales Depreciation Cost of Goods Sold Other Expenses Interest Cash Accounts Receivable Short-term Notes Long-term Debt Net Fixed Assets Accounts Payable Inventory Dividends Paid 2020 2021 23,146,000 25,872,000 3,322,000 3,472,000 7,958,000 9,414,000 1,892,000 1,648,000 1,552,000 1,852,000 12,134,000 12,932,000 16,068,000 18,854,000 3,422,000 2,294,000 40,640,000 49,392,000 101,776,000 108,546,000 8,768,000 9,288,000 28,566,000 30,576,000 2,822,000 3,236,000 a Draw up the statements of financial position and the statements of comprehensive income for Bakers Inc. for 2020 and 2021. You can use Excel. (20 marks) b. For 2021, calculate the cash flow from assets, cash flow to creditors, and cash flow to shareholders. (12 marks)Step by Step Solution
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