Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items

The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars.

2018 2019
Revenue $

4,100

$ 4,200
Cost of goods sold

1,700

1,800
Depreciation 470 490
Inventories 270 335
Administrative expenses 520 570
Interest expense 240 240
Federal and state taxes* 340 360
Accounts payable 320 355
Accounts receivable 350 395
Net fixed assets 4,800 5,540
Long-term debt 4,000 6,500
Notes payable 687 540
Dividends paid 380 380
Cash and marketable securities 2,378 480

* Taxes are paid in their entirety in the year that the tax obligation is incurred.

Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.

Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign.)

Fincorp Inc.
Statement of Cash Flows
($ in 000s)
Cash flows from operations
Noncash expenses
Changes in working capital
Total change in working capital 0
$0
Cash flows from investments
0
Cash flows from financing activities
0
$0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Handbook Of Financial Instruments

Authors: Frank J. Fabozzi

1st Edition

0471220922, 978-0471220923

More Books

Students also viewed these Finance questions

Question

6. Describe the key parts of the technology design step.

Answered: 1 week ago