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The below tables shows Dynamic Mattress's year-end 2016 and 2018 balance sheets, and its income statement for 2017 Assets Current Assets: Cash Marketable securities Accounts
The below tables shows Dynamic Mattress's year-end 2016 and 2018 balance sheets, and its income statement for 2017 Assets Current Assets: Cash Marketable securities Accounts receivable Inventory Total current assets Dynamic Mattress Year-End Balance Sheet for 2016 (figures in 5 millions) Liabilities and Shareholders' Equity Current Liabilities: $ 42 Bank loans 21 Accounts payable 121 205 $ 339 Total current liabilities $ 42 130 $ 172 $ 261 Fixed assets: Gross investment Less depreciation Net fixed assets Total assets Long-term debt Net worth (equity and retained earnings) Total liabilities and net worth Assets Current Assets: Cash Marketable securities Accounts receivable Inventory Total current assets Dynamic Mattress Year-End Balance Sheet for 2017 (figures in $ millions) Liabilities and Shareholders' Equity Current Liabilities: $ 152.2 Debt due within a year (bank loans) Debt due wit 0.0 Accounts payable 146. 249.0 $ 547.0 Total current liabilities $ 58. 176. $ 234. Fixed assets: Gross investment Less depreciation Net fixed assets Total assets Long-term debt Net worth (equity and retained earnings) 82.0 510.5 $367. 87.5 $ 279.5 $ 826.5 Total liabilities and owners' equity $ 826.5 (figures in $ millions) Sales Operating costs 17.5 74.3 16.0 Depreciation EBIT Interest Pretax income Tax at 50% Net income 29.8 Notes: Dividend = $85 million and reinvested earnings = $65 million. Use the tables above to work out the statement of cash flows for 2017. (Enter your answers in millions of dollars rounded to 1 decimal place.) Dynamic Mattress (figures in $ millions) Sources of cash: Sold marketable securities Increased bank loans Increased accounts payable Increased long-term debt $ 21.0 16.0 48.0 46.0 Net income 29.0 0.0 17.5 S 175.5 Issue of stock Depreciation Total sources Uses of cash: Increased inventories Increased accounts receivable Invested in fixed assets Dividend Total uses S [ 44.0 25.0 108.0 85.0 280.00 ls
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