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The Alpha corporation has the following balance sheets and income statement Assets 2009 2010 Cash 57,600 7,282 Accounts Receivable 351,200 632,160 Inventories 715,200 1,287,360 Total

The Alpha corporation has the following balance sheets and income statement

Assets 2009 2010

Cash 57,600 7,282

Accounts Receivable 351,200 632,160

Inventories 715,200 1,287,360

Total Current Assets $1,124,000 $1,926,802

Gross Fixed Assets 491,000 1202,950

Less accumulated Depreciation 146,200 263,160

New Fixed Assets 344,800 939,790

Total Assets $1,468,800 $2,866,592

Liabilities and Equity

Accounts payable $145,600 $524,160

Notes Payable 200,000 636,808

Accruals 136,000 489,600

Total Current Liabilities $481,600 $1,650,568

Long Term Debt 323,432 723,432

Common Stock (100,000 Shares 460,000 460,000

Retained Earning 203,768 32,592

Total Liabilities and Equity $1,468,800 $2,866,592

Income Statement 2010

Sales $6,034,000

Cost of Goods Sold 5,528,000

Other Expenses 519,988

Gross Profit Margin $6,047,988

Depreciation and amortization 116,960

EBIT ($130,948)

Interest Expense 136,012

EBT ($266,960)

Taxes (40%) (106,784)

New Income $(160,176)

1) Given the information above, prepare a cash flow statement for 2010

Additional information: Cash dividends were $11,000

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