- St. of Cash Flows (10 points) Seved Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILL.CO INC. Balance sheets February 28 and January 31, 2020 February 28 January 31 Assets $ 58,800 $ 51,800 Accounts receivable 89,600 74,200 Merchandise inventory 113,400 131.600 Total current assets $261,800 $257,600 Plant and equipment: Production equipment 232,400 Less Accumulated depreciation 212,800 (33.600) (29,400) Total assets $460,600 $441,000 Liabilities Accounts payable $ 51,800 $ 57,00 Short-term debt 61,600 61,600 Other accrued liabilities 29,400 23,600 Total current liabilities $142,800 $152,600 Long-term debt 46200 64.400 Total liabilities $189.000 $217,000 Stockholders' Equity Common stock, no par value, 56,000 shares authorised, 42,000 and 39,200 shares Lewed, respectively $145,600 5134,400 Retained earnings: Beginning balance $ 89,600 $ 60,200 Bet income for month 50.400 40.600 Dividende 14.000 11.2003 Ending balance $126.DDD $189.500 Total stockholders' equity 5271,600 5224.000 Total liabilities and stockholders' equity $460.600 $441,000 Required: a. Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is MacBook Air 80 goo ooo F3 * # 3 $ 4 2 % 5 & 7 6 8 0 W E R T Y U S D F. G H of Cash Flows (10 points) Help 3 $187.000 $217,000 $134.400 Total liabilities stockholders' quity Common stock, ne par value, 56,000 shares authorised 42,000 and 31,200 shares issued, respectively Retained warnings Beginning balance Not Income for month Dividende Ending balance Total stockholders' equity Total liabilities and stockholders' quity $145.600 $ 89, 50.400 (14,000) $126,000 $271,600 $460.600 60.200 40.600 (11.2001 3224,000 $441,000 Required: a. Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 28 and January 31 amounts of each balance sheet item b. Prepare a statement of cash flows that explains above changes? Complete this question by entering your answers in the tabs below. Required A Required Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment) tecause the retained carings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 23 and January 31 amounts of each balance sheet item. MacBook Air 30 1 2 $ 4 3 % 5 & 7 6 8 9 w E R T T Y Y U O S D F G H J K K L V V B N M Assets Cash $ 58,800 $ 51,800 80.500 74,200 113.400 131,600 $ 261,800 $ 257,600 Accounts receivable Merchandise Inventory Total current assets Plant and equipment Production equipment Less: Accumulated depreciation Total 232,400 212.800 (33.600) (29.400) $ 460,600 $441,000 rences 61.800 $ 51,800 $ 57400 61,600 20,400 33,600 $ 142,000 $152.600 46.200 54.400 $ 189,000 $ 217.000 Liabilities Accounts payable Short-term debt Other accrued Babies Total current la Long-term debit Total liabilities Stockholders' Equity Common stock Retained earnings Beginning balance Net income for month Didends Ending balance Total stockholders Totales and stockholders' equity $ 145.000 134.400 $ 89.500 50.400 (14,000) $126.000 $ 271.600 S 5 60.200 40.000 (11,200) 89,600 224,000 441,000 MacBook Air BO 44 * # 3 $ 4 % 5 & 7 6 8 9 W E R. T Y o S D F G H J K Required A Required B Prepare a statement of cash flows that explains above changes? (Amounts to be deducted should be indicated by a minus sign.). MILLCO INC Statement of Cash Flows For the Month Ended February 28, 2020 Cash flows from operating activities: Add(deductiems not affecting cash Cash flows from investing its Cashows from financing activities MacBook Air 80 900 A # 3 % 5 & 7 4 6 8 9 W E 70 Y > U O S D F G H J K - St. of Cash Flows (10 points) Seved Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILL.CO INC. Balance sheets February 28 and January 31, 2020 February 28 January 31 Assets $ 58,800 $ 51,800 Accounts receivable 89,600 74,200 Merchandise inventory 113,400 131.600 Total current assets $261,800 $257,600 Plant and equipment: Production equipment 232,400 Less Accumulated depreciation 212,800 (33.600) (29,400) Total assets $460,600 $441,000 Liabilities Accounts payable $ 51,800 $ 57,00 Short-term debt 61,600 61,600 Other accrued liabilities 29,400 23,600 Total current liabilities $142,800 $152,600 Long-term debt 46200 64.400 Total liabilities $189.000 $217,000 Stockholders' Equity Common stock, no par value, 56,000 shares authorised, 42,000 and 39,200 shares Lewed, respectively $145,600 5134,400 Retained earnings: Beginning balance $ 89,600 $ 60,200 Bet income for month 50.400 40.600 Dividende 14.000 11.2003 Ending balance $126.DDD $189.500 Total stockholders' equity 5271,600 5224.000 Total liabilities and stockholders' equity $460.600 $441,000 Required: a. Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is MacBook Air 80 goo ooo F3 * # 3 $ 4 2 % 5 & 7 6 8 0 W E R T Y U S D F. G H of Cash Flows (10 points) Help 3 $187.000 $217,000 $134.400 Total liabilities stockholders' quity Common stock, ne par value, 56,000 shares authorised 42,000 and 31,200 shares issued, respectively Retained warnings Beginning balance Not Income for month Dividende Ending balance Total stockholders' equity Total liabilities and stockholders' quity $145.600 $ 89, 50.400 (14,000) $126,000 $271,600 $460.600 60.200 40.600 (11.2001 3224,000 $441,000 Required: a. Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 28 and January 31 amounts of each balance sheet item b. Prepare a statement of cash flows that explains above changes? Complete this question by entering your answers in the tabs below. Required A Required Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment) tecause the retained carings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 23 and January 31 amounts of each balance sheet item. MacBook Air 30 1 2 $ 4 3 % 5 & 7 6 8 9 w E R T T Y Y U O S D F G H J K K L V V B N M Assets Cash $ 58,800 $ 51,800 80.500 74,200 113.400 131,600 $ 261,800 $ 257,600 Accounts receivable Merchandise Inventory Total current assets Plant and equipment Production equipment Less: Accumulated depreciation Total 232,400 212.800 (33.600) (29.400) $ 460,600 $441,000 rences 61.800 $ 51,800 $ 57400 61,600 20,400 33,600 $ 142,000 $152.600 46.200 54.400 $ 189,000 $ 217.000 Liabilities Accounts payable Short-term debt Other accrued Babies Total current la Long-term debit Total liabilities Stockholders' Equity Common stock Retained earnings Beginning balance Net income for month Didends Ending balance Total stockholders Totales and stockholders' equity $ 145.000 134.400 $ 89.500 50.400 (14,000) $126.000 $ 271.600 S 5 60.200 40.000 (11,200) 89,600 224,000 441,000 MacBook Air BO 44 * # 3 $ 4 % 5 & 7 6 8 9 W E R. T Y o S D F G H J K Required A Required B Prepare a statement of cash flows that explains above changes? (Amounts to be deducted should be indicated by a minus sign.). MILLCO INC Statement of Cash Flows For the Month Ended February 28, 2020 Cash flows from operating activities: Add(deductiems not affecting cash Cash flows from investing its Cashows from financing activities MacBook Air 80 900 A # 3 % 5 & 7 4 6 8 9 W E 70 Y > U O S D F G H J K