Statement of Cash Flow Template Please prepare a Statement of Cash Flow as shown below using Excel. Input answers in the last column. After you answer all questions on Blackboard upload the Statement of Cash Flows, prepared in Excel, to Blackboard. Answers Stevie's Surfboard Tables, Inc. Statement of Cash Flow For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to net cash flow from operating activities Depreciation Amortization Gain or Loss Changes in current operating assets and liabilities Net Cash Flow from Operating Activities Cash Flows from Investing Activities Cash received from sale Less cash used for purchases Net Cash Flow from Investing Activities Cash Flow from Financing Activities Cash received from issuance of stock Less cash paid dividends or long-term debt Net Cash Flow from Financing Activities Increase or decrease in cash Cash at the beginning of the year Cash at the end of the year Stevie's Surfboard Table Solution Ratios Working Capital 2020 429,700 Ratios 2019 240,500 270,000 168,000 159,700 72,500 Current Ratio 2020 2019 Quick Ratio 2020 2019 Account Receivable Turnover 2020 Number of Days Sales in Receivables 2020 Inventory Turnover 2020 Number of Days Sales in Inventory 2020 Ratio of Liabilities to S/E 2020 2019 Return on Total Assets 2020 Return on SE 2020 Earnings per share 2020 2019 Stevie's Surfboard Tables, Inc. Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Rent Total Current Assets 200,000 100,000 100,000 9,700 10,000 $419,700 60,000 150,000 70,000 500 30,000 $310,500 Property, plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets 350,000 (70,000) $280,000 $699,700 235,000 (65,000) $170,000 $480.500 2020 2019 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Unearned Revenue Salaries Payable Federal Income Taxes Payable Total Current Liabilities 75,000 60,000 40,000 25,000 $200,000 105,000 75,000 42,000 16,000 $238,000 Long Term Liabilities Note Payable Total Liabilities 132,200 $332,200 78,000 $316,000 Stockholders' Equity: Common Stock, $10 Par Paid-In Capital in Excess of Par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 20,000 70,000 30,000 267,500 $367,500 $699,700 144,500 $164,500 $480,500 Stevie's Surfboard Tables, Inc. Comparative Statement of Income For the Years Ended December 31, 2020 and 2019 2020 2019 935,000 610,000 $325,000 650,000 475,000 $175,000 Sales Cost of Goods Sold Gross Margin Operating Expenses: Salaries and Wages Expense Rent Expense Depreciation Expense Total Operating Expenses Income from Operations Gain on Sale of Equipment Interest Expense Increase (Decrease) in Operating Income Income before Taxes Federal Income Taxes Net Income 100,000 20,000 10,000 $130,000 $45,000 86,000 30,000 15,000 $131,000 $194,000 3,000 (7,000 (4,000) 190,000 (57,000) $133,000 (5,000) (5.000) 40,000 (12,000) $28,000
