Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable 2021 $ 4,300 1,200 480 400 430 200 680 300 380 2022 $ 4,400 1,300 4,000 3,500 875 340 2,345 500 435 480 200 700 365 420 Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities *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 2022. Note: Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign. 4,710 5,500 630 340 430 Cash flows from operations Net income Noncash expenses Changes in working capital Fincorp Incorporated Statement of Cash Flows ($ in 000s) Total change in working capital Cash flows from investments Cash flows from financing activities Z $ $ $ 1,220 0 1,220 0 0 1,220
Step by Step Solution
★★★★★
3.54 Rating (151 Votes )
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