Question
Prepare a statement of cash flows based on the following: Even Keel Corporation Balance Sheet As of December 31, 2023 and 2022 ($ in millions)
Prepare a statement of cash flows based on the following:
Even Keel Corporation |
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Balance Sheet |
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As of December 31, 2023 and 2022 |
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($ in millions) |
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2023 | 2022 |
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Assets |
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Cash | $ 85 | $ 40 |
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Accounts receivable, net | 80 | 92 |
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Inventory | 145 | 130 |
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Prepaid expenses | 8 | 5 |
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Current assets | 318 | 267 |
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Land | 230 | 140 |
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Buildings and equipment | 421 | 300 |
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Accumulated Depreciation | (186) | (103) |
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Total Assets | $ 783 | $ 604 |
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Liabilities |
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Accounts Payable | $ 17 | $ 32 |
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Accrued liabilities | 8 | 10 |
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income taxes payable | 18 | 12 |
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Current Liabilities | 43 | 54 |
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Bonds payable | 183 | 113 |
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Total liabilities | 226 | 167 |
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Shareholders' Equity |
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Common stock | 60 | 50 |
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Paid-in-capital in excess of par | 245 | 205 |
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Retained earnings | 252 | 182 |
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Total Shareholders' equity | 557 | 437 |
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Total liabilities and shareholders' equity | $ 783 | $ 604 |
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Additional Information: |
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1. Net income for the year ended December 31, 2023 is $80,000,000 |
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2. Dividends paid during the year ended December 31, 2023 is $10,000,000 | |||||||
3. No land, buildings or equipment were sold during the year |
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Include operating, investing, and financing activities.
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