Prepare a Statement of Cash Flows for the year ended December 31, 2020 for the corporation, organized by cash flow from operating activities, cash flow from investment activities, and cash flow from financing activities later, evaluate each part of the cash flow as it follows a) operating activities b) financing activities c)investing activities
Income Statement for the year ended Dec 31, 2020 2020 2019 Sales revenue $ 30,000 $ 27,000 less Cost of Goods Sold 15,700 14,000 Gross Profits 14,300 13,000 2,200 2,500 Less General and Adm. Expenses Selling Expenses Depreciation expense 600 420 425 325 Total Expenses 3,225 3,245 Operating Profits 11,075 9,755 800 900 less Interest Expenses Net Profit Before Taxes 10,275 8,855 less Taxes 3494 3010 Net Profits Net profit after taxes 6,781 5,845 less Preferred Dividends 275 275 Eamings Available To Common Stockholders $ 6,506 $ 5,570 Balance Sheet For the Years Ended December 31, 2020 and 2019 2020 2019 ASSETS $ 725 $ 3400 Cash Marketable Securities Accounts Receivable Inventory Total Current Assets 500 2900 3.300 4700 3750 3250 11125 11400 9100 8325 1750 2.500 Buildings Machinery Equipments Total Gross Assets Less Accumulated Depreciation 650 775 12,250 10,850 3100 3525 Net Fixed Assets 8,725 7.750 Total Assets 19,850 $ 19,150 LIABILITIES AND EQUITY 550 $ 700 Accounts Payable Notes Payable Accruals Total Current Liabilities 1350 600 1,750 500 2950 2500 Long Term Debts 11500 12.000 Total Debts 14000 14950 200 400 3700 2700 Preferred Stock Common Stock Paid in Capital ie of par value Retained Earnings Total Stockholders equity 250 1500 5850 100 1200 4200 TOTAL DEBTS AND S. EQUITY 19,850 $ 19,150 Income Statement for the year ended Dec 31, 2020 2020 2019 Sales revenue $ 30,000 $ 27,000 less Cost of Goods Sold 15,700 14,000 Gross Profits 14,300 13,000 2,200 2,500 Less General and Adm. Expenses Selling Expenses Depreciation expense 600 420 425 325 Total Expenses 3,225 3,245 Operating Profits 11,075 9,755 800 900 less Interest Expenses Net Profit Before Taxes 10,275 8,855 less Taxes 3494 3010 Net Profits Net profit after taxes 6,781 5,845 less Preferred Dividends 275 275 Eamings Available To Common Stockholders $ 6,506 $ 5,570 Balance Sheet For the Years Ended December 31, 2020 and 2019 2020 2019 ASSETS $ 725 $ 3400 Cash Marketable Securities Accounts Receivable Inventory Total Current Assets 500 2900 3.300 4700 3750 3250 11125 11400 9100 8325 1750 2.500 Buildings Machinery Equipments Total Gross Assets Less Accumulated Depreciation 650 775 12,250 10,850 3100 3525 Net Fixed Assets 8,725 7.750 Total Assets 19,850 $ 19,150 LIABILITIES AND EQUITY 550 $ 700 Accounts Payable Notes Payable Accruals Total Current Liabilities 1350 600 1,750 500 2950 2500 Long Term Debts 11500 12.000 Total Debts 14000 14950 200 400 3700 2700 Preferred Stock Common Stock Paid in Capital ie of par value Retained Earnings Total Stockholders equity 250 1500 5850 100 1200 4200 TOTAL DEBTS AND S. EQUITY 19,850 $ 19,150
