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The chief accountant for Eagle View Corporation provides you with the company's 2017 statement of cash flows, income statement and comparative balance sheets. The accountant
The chief accountant for Eagle View Corporation provides you with the company's 2017 statement of cash flows, income statement and comparative balance sheets. The accountant has asked for your help with some missing figures in the company's financials below ($ in millions).
Statement of Cash Flows | ||
Cash flows from operating activities: | ||
Collections from customers | 66 | |
Payments to suppliers | -31 | |
Payment of general and administrative expenses | -15 | |
Payment of income taxes | -6 | |
Net cash flows from operating activities | ||
Cash flows from investing activities: | ||
Sale of investments | 62 | |
Cash flows from financing activities: | ||
Issuance of common stock | 15 | |
Payment of dividends | -4 | |
Net cash flows from financing activities; | ||
Net increase (decrease) in cash |
Income Statement | ||
Sales revenue | 79 | |
Cost of goods sold | 29 | |
Gross profit | ||
Operating expenses: | ||
General and administrative expenses | ||
Depreciation | 9 | |
Total operating expenses | ||
Operating income | ||
Other income: | ||
Gain of sale of investments | 17 | |
Income before income taxes | ||
Income tax expense | 5 | |
Net income |
Comparative Balance Sheet | 2017 | 2016 |
Assets | ||
Cash | 149 | |
Accounts receivable | 85 | |
Investments | 0 | |
Inventory | 58 | |
Property, plant and equipment | 150 | 150 |
Less: Accumulated Depreciation | -62 | |
Total Assets | ||
Liabilities | ||
Accounts payable to suppliers | 35 | 31 |
Payables for selling and administrative expenses | 8 | 8 |
Income taxes payable | 25 | |
Total liabilities | ||
Stockholders' equity | ||
Common stock | 232 | |
Retained earnings | ||
Total stockholders' equity | ||
Total liabilities and stockholders' equity |
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