Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

show work Balance Sheets For the years ending December 31, 2011 and 2012) 2012 2011 Cash 200 100 Accounts receivable 800 1,400 Inventory 3,600 3,100

show work image text in transcribed
Balance Sheets For the years ending December 31, 2011 and 2012) 2012 2011 Cash 200 100 Accounts receivable 800 1,400 Inventory 3,600 3,100 Current assets 4,600 4,600 Gross fixed assets 22,000 31,000 (Accumulated depreciation) (14,000) (12,000) Net fixed assets 17,000 10,000 Total assets 14,600 21,600 Notes payable 100 Accounts payable Accruals Current portion of LT Debt 400 600 300 200 800 1,400 Current liabilities 1,600 1,200 2,200 Long-term debt 2,800 Common stock 2,100 3,400 Additional paid in capital Retained earnings 8,600 11,900 1,100 1,300 Total liabilities and equity 14,600 21,600 On its 2011 income statement, Richardson Inc. reported net income of $1,300 and on its 2012 income statement, the company reported net income of $1,700. Based on this information (and given the company's balance sheets for 2011 and 2012 in the chart above), compute Net Cash Flows from Investing Activities for Richardson in 2012

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