The Glass Factory, Inc. has just ended the 2014 production year. The balance sheet and partial information from the income statement are presented below.

a) Prepare a partial statement of cash flows only for net cash flow from operating activity, and

 b) calculate the equity multiplier of Glass Factory for the year ended on December 31, 2014

 

Balance Sheet, Glass Factory, Inc., December 31, 2013 and 2014 2014 Assets. Cash Accounts receivable Inventory Net fixed assets Total Assets Liabilities and Stockholders' Equity Accounts payable Notes payable Accruals my $1,000 6,500 5,500 $10,000 $23,000 Long-term debt 10,000 Common stock at par 500 Paid-in capital in excess of par 5,500 Retained earnings 1,500 Total Liabilities and Stockholders' Equity $23,000 Information from the Income Statement, Glass Factory, Inc. for the Year Ended December 31, 2014 Sales Earnings before interest and taxes Depreciation Net income Dividends paid $2,000 3,050 450 $30,000 $4,800 $1,000 $2,400 $1,400 2013 $500 4,500 6,000 $6,000 $17,000 $1,500 2,500 500 6,000 500 5,500 500 $17,000