Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show work so I can see what I am doing wrong. Consider the following set of data for ABC Corporation, and note that ABC

image text in transcribedimage text in transcribedPlease show work so I can see what I am doing wrong.

Consider the following set of data for ABC Corporation, and note that ABC Corporation faces a tax rate of 35%. 2011 Sales Cost of goods sold Depreciation Interest Dividends Current assets Net fixed assets Current liabilities Long-term debt $4,203 2,422 785 180 225 2,205 7,344 1,003 3,106 2012 $4,507 2,633 952 196 250 2,429 7,650 1,255 2,085 Begin by constructing a balance sheet for both 2011 and 2012, and then construct an income statement for 2012. 1. Operating cash flow for ABC Corp. in 2012 was an: A) inflow of $1,170. B) outflow of $1,170. C) inflow of $1,620. D) outflow of $1,620. 2. Net capital spending for ABC Corp. in 2012 was an: A) inflow of $306 B) outflow of $306 C) inflow of $1,258 D) outflow of $1,258 3. The change in net working capital for ABC Corp. in 2012 was an: A) inflow of $28 B) outflow of $28 C) inflow of $1,202 D) outflow of $1,202 4. The cash flow from assets for ABC Corp. in 2012 was an: A) inflow of $390 B) outflow of $390 C) inflow of $2,850 D) outflow of $2,850 5. The cash flow to creditors for ABC Corp. in 2012 was an: A) inflow of $825 B) outflow of $825 C) inflow of $1,217 D) outflow of $1,2127 6. The cash flow to stockholders for ABC Corp. in 2012 was an: A) inflow of $827 B) outflow of $827 C) inflow of $1,327 D) outflow of $1,327

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance Business Discover Types Of Audits Balance Sheets And Assertions

Authors: Carleen Legalley

1st Edition

B0B5KVD4FZ, 979-8839194779

More Books

Students also viewed these Accounting questions

Question

How is the NDAA used to shape defense policies indirectly?

Answered: 1 week ago