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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 $4,489 1,500 480 290 530 210 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assetst Long-tern debt Notes payable Dividends paid Cash and marketable securities 2019 $4,500 1,600 50 328 588 210 550 340 480 5,270 7. Be 610 530 280 440 4,500 4,390 896 440 2,860 400 510 * Taxes are paid in their entirety in the year that the tax obligation is incurred, Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign.) Fincorp Inc. Statement of Cash Flows ($ in 000s) Cash flows from operations Net income Noncash expenses Depreciation expense $ 500 Changes in working capital Change in inventories Change in accounts receivable Change in accounts payable 0 $ 500 Total change in working capital Cash provided by operations Cash flows from investments Cash used for additions to property, plant and equipment Cash used for investments Cash flows from financing activities Additions to long-term debt Reductions in notes payable Dividends paid 0 0 Cash used for financing activities Net increase in cash and cash equivalents $ 500
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