Question
Tesla Inc. Financial Information for the Year Ended December 31, 2022: Income Statement: Sales : $8,000,000 Cost of Goods Sold : $5,200,000 Selling Expenses :
Tesla Inc. Financial Information for the Year Ended December 31, 2022:
Income Statement:
Sales: $8,000,000
Cost of Goods Sold: $5,200,000
Selling Expenses: $1,200,000 (Depreciation: $250,000)
Interest Expense: $75,000
Gain on Sale of Equipment: $55,000
Income Tax Expense: $180,000
Balance Sheet:
Item | 12/31/2022 | 12/31/2021 |
Cash | $900,000 | $600,000 |
Accounts Receivable | $400,000 | $350,000 |
Inventory | $750,000 | $670,000 |
Accounts Payable | $550,000 | $480,000 |
Additional Information:
Equipment sold for $200,000 (original cost $300,000, carrying value $180,000).
New equipment purchased for $150,000.
Dividends declared and paid: $250,000.
Treasury shares purchased: 1,000 shares for $100,000.
Requirements:
Calculate cash flows from operating activities.
Calculate cash flows from investing activities.
Calculate cash flows from financing activities.
Determine the ending cash balance.
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