Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 2-39 Free Cash Flow (LG2-5) Rebecky's Flowers 4U, Inc., had free cash flows during 2021 of $46 million, NOPAT of $90 million, and depreciation

image text in transcribed

Problem 2-39 Free Cash Flow (LG2-5) Rebecky's Flowers 4U, Inc., had free cash flows during 2021 of $46 million, NOPAT of $90 million, and depreciation of $20 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 $ 27 $ 25 Accounts receivable 40 Inventory 45 45 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: 33 $ 30 Accrued wages and taxes 90 80 Accounts payable 138 120 Notes payable 261 $ 230 Total Long-term debt: $ 520 $ 470 Stockholders' equity: 50 30 Preferred stock (6 million shares) $ 470 $ 440 Common stock and paid-in surplus (20 million shares) 70 70 Retained earnings $ 540 $ 510 Total $ 801 740 Total liabilities and equity Total $ $ 110 Fixed assets: $ 384 $ 6 $ 6 Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets 40 40 237 200 Total 283 $ 246 Total assets $ 801 740

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions