Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 2-39 Free Cash Flow (LG2-5) Rebecky's Flowers 4U, Inc., had free cash flows during 2021 of $48 million, NOPAT of $98 million, and depreciation
Problem 2-39 Free Cash Flow (LG2-5) Rebecky's Flowers 4U, Inc., had free cash flows during 2021 of $48 million, NOPAT of $98 million, and depreciation of $12 million. Using this information, fill in the blanks on Rebecky's balance sheet below. (Enter your answers in millions of dollars.) Assets 2021 2020 Current assets: Cash and marketable securities $ 22 $ 20 106 x 80 Accounts receivable Inventory Total 60 60 REBECKY'S FLOWERS 4U, INC. Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Liabilities and Equity Current liabilities: $ 25 $ 22 Accrued wages and taxes 74 64 Accounts payable 133 114 Notes payable $ 232 $ 200 Total Long-term debt: $ 370 $ 330 Stockholders' equity: 62 50 Preferred stock (5 million shares) $ 308 $ 280 Common stock and paid-in surplus (20 million shares) 60 60 Retained earnings $ 368 $ 340 Total $ 600 $ Total liabilities and equity $ 160 194 X $ 130 $ Fixed assets: $ 175 $ $ 5 $ 5 Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total 40 40 197 160 $ 242 $ 205 Total assets 540 $ 600 $ 540
Step 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