Question
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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