Answered step by step
Verified Expert Solution
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. 2019 $5,800 1,700 450 405 550 120 2018 $5,700 1,600 430 350 500 120 920 260 450 5,800 3,000 820 350 2,320 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 940 335 490 6,490 4,300 490 350 370 * Taxes are paid in their entirety in the year that the tax obligation is incurred. Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be Indicated by a minus sign.) Fincorp Inc. Statement of Cash Flows ($ in 000s) Cash flows from operations Net income Noncash expenses Changes in working capital Total change in working capital $ Cash flows from investments Cash flows from financing activities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started