Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare Indirect Cash Flow Statement. Thank you! $12 125 187 Ball Corporation reported the following 2021 income statement and balance sheets at December 31, 2021
Prepare Indirect Cash Flow Statement. Thank you!
$12 125 187 Ball Corporation reported the following 2021 income statement and balance sheets at December 31, 2021 and December 31, 2020: BALL CORPORATION BALANCE SHEET: ($ in millions) Dec. 31, 2021 Dec. 31, 2020 Cash $17 Accounts receivable 120 Inventory 198 BALL CORPORATION INCOME STATEMENT (2021): Property, plant and equipment, net 504 490 ($ in millions) Total assets $839 $814 Sales revenue $2,337 Accounts payable $88 $90 Cost of goods sold (1,503) Long-term debt 250 Common stock 100 Depreciation expense (288) Retained earnings 701 Net income $546 Treasury stock (300) Total liabilities and equity $839 $814 100 624 During 2021, Ball declared and paid common dividends of $469 million. It purchased additional property, plant and equipment (PP&E) for $302 million cash during the year and it sold none of its PP&E. You will need to infer that certain other transactions took place from the financial statements presentedStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started