Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 10 Based on the following financial statements, convert the 2012 net income to the operating cash flow in that year. The operating cash flow

image text in transcribed
Question 10 Based on the following financial statements, convert the 2012 net income to the operating cash flow in that year. The operating cash flow in 2012 is Hint: Pay attention to the sign. Instruction: Type ONLY your numerical answer. No rounding is allowed. Income Statement Garcia Corporation 2011 2012 Sales 4,000 4,600 less: Operating cost 2,700 3,080 less: Depreciation 500 400 Earnings Before Interest and Taxes 800 1,120 less: Interest Earnings Before Taxes 800 900 less: Taxes 320 360 Net Income 480 540 Balance Sheet Garcia Corporation 2011 2012 2011 2012 Cash 200 Accounts Payable 100 85 Receivable 400 450 Notes payable 400 490 Inventory 600 700 Total Current Liabilities 500 575 Total Current Assets 1,200 1,380 Long-term Debt 200 200 230 Fixed Assets 1,500 1,500 Common Stock Retained Earnings Total Uabilities and Stockholder's Equity 1,600 400 2,700 1,600 505 Total Assets 2,700 2,080 2,50

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

The Investing Revolutionaries How The Worlds Greatest Investors Take On Wall Street And Win In Any Market

Authors: James N. Whiddon , Nikki Knotts

1st Edition

0071623949,0071700560

More Books

Students also viewed these Finance questions

Question

What is the capitalization of the U.S. CRE pubilc debt market?

Answered: 1 week ago