Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Two years ago, Statesboro was selected as the location for the newest NFL team, the Georgia Peach Bums. The Peach Bums have a multiple owner/publicly

Two years ago, Statesboro was selected as the location for the newest NFL team, the Georgia Peach Bums. The Peach Bums have a multiple owner/publicly traded corporation ownership model. As part of this model, the investors purchased 25,000,000 shares of common stock at $1 per share. Unfortunately, they have lost all of their financial statements from 2014. Please use the following accounts and balances to create a Balance Sheet as of 12/31/2014 (ending balances only) and an Income Statement for the Year Ended 2014. Make a table with professional quality. Indicate the date and categories clearly. *All amounts in millions (USD) Accounts Payable $3 Accounts Receivable, net $3 Accrued expenses $2 Capital Lease Obligations $5 Cash $4 Common Stock $25 Cost of Goods Sold $5 Intangible Assets $3 Interest Income (Expense) -$4 Inventories $6 Net Revenue $35 Other Long-term Liabilities $1 Other Non-current Assets $4 Property and Equipment, net $25 Retained Earnings $4 Revolving Credit (Loan) $5 Selling G&A $23 Taxes $1 Additionally, please create a Statement of Cash Flows for the Year Ended 2014 using the following information: *All amounts in millions (USD) Accounts Payable $1 Accounts Receivable $3 Depreciation $5 Inventories ($1) Net Income $2 Payments of Long-term debt ($4) Proceeds from sale of equipment $6 Process from stock issuance $8 Purchase of Property & Equipment ($18)

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

Commodity Market Trading And Investment

Authors: Tom James

1st Edition

1137432802, 978-1137432803

More Books

Students also viewed these Finance questions

Question

4. Describe cultural differences that influence perception

Answered: 1 week ago