Q16

Refer to the information above regarding Integrated Industries. From looking at Integrated's financial statements, it can be determined that: ( 1) Cash collected from customers for the year ended December 31, 2016 was $300,180. 2) The net increase in cash due to operating activities for the year ended December 31, 2016 was $7,696.8. 3) Integrated Ind did not pay any dividends during the year ended December 31, 2016. 4) All of these answers are correct. 5) None of these answers is correct. Integrated Industries, Inc. - Statements of Financial Position in Millions of Dollars ASSETS Cash and marketable securities Trade accounts receivable (net of allowances for uncoll acets of $90 and $76.8, respectively) Product inventory Prepaid expenses and other current assets Total current assets Property and buildings Equipment Less-accumulated deprec and amort Property, buildings and equipment, net Other long term assets Goodwill Total assets 31-Dec-1631-Dec-15 10,166.4 0. 01 35,925.6 38.547.6 43,028.4 38.628.0 4,866.0 2.827.2 93,986.4 80.002.8 24,540.0 17.692.8 20,235.6 16,662.0 (11,133.6) (8,449.2) 33,642.0 25.905.6 0.0 483.6 9,006. 0 9 ,697.2 136,634.4 116,089.2 37.378.8 24.560.4 670.8 43,440.0 17,061. 6 60,501.6 950.4 31.705.2 17,414.4 49.119.6 LIABILITIES AND SHAREHOLDERS' EQUITY Trade accounts payable Accrued expenses and other liabilities Current portion of long-term debt Total current liabilities Long-term debt, net of curent portion Total liabilities SHAREHOLDERS' EQUITY: Common stock, 100 million shares authonzed, S1 par value, 47 and 46 million shares issued respectively Additional paid-in capital Treasury stock, 5.5 and 5.2 mill shares respectively Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 106.8 46.152.0 (6.484.8) 36,358.8 76,132. 8 136,634.4 104 4 44.108.4 (5.905.2) 28.662.0 66.969.6 116,089.2 31-Dec-16 300,180.0 (218,558.4) (67,629.6) Integrated Industries, Inc. - Statement of Income Fiscal Years Ended Revenues Cost of goods sold Selling, gen & admin exp Total operating expenses Income from operations Interest inc (exp). net Income before tax exp Income tax expense Net income 13,992.0 (1,626.0) 12.366.0 (4,669.2) 7.696.8