Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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.) REBECKY'S FLOWERS 4U, INC. Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Assets 2021 2020 Liabilities and Equity 2021 2020 Current assets: Current liabilities: Cash and marketable securities $ 33 $ 30 Accrued wages and taxes $ 27 $ 25 Accounts receivable 90 80 Accounts payable 40 Inventory 138 120 Notes payable 45 45 Total $ 261 $ 230 Total $ 110 Fixed assets: Long-term debt $ 384 Gross plant and equipment $ 520 $ 470 Stockholders' equity: 1 Less: Depreciation 50 30 Preferred stock (6 million shares) $ 6 $ 6 Net plant and equipment $ 470 $ 440 Common stock and paid-in surplus (20 million shares) 40 40 237 200 70 70 Retained earnings Other long-term assets Total $ 540 $ 510 Total $ 283 $ 246 $ 801 $ 740 Total liabilities and equity $ 801 $ 740 Total assets
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