Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following information for Clarington Inc., (assume the tax rate is 34%): 2017 2018 Sales $ 11,573 $ 12,936 Depreciation 1,661 1,736 Cost of
Use the following information for Clarington Inc., (assume the tax rate is 34%):
2017 | 2018 | |||
Sales | $ | 11,573 | $ | 12,936 |
Depreciation | 1,661 | 1,736 | ||
Cost of goods sold | 3,979 | 4,707 | ||
Other expenses | 946 | 824 | ||
Interest | 776 | 926 | ||
Cash | 6,067 | 6,466 | ||
Accounts receivable | 8,034 | 9,427 | ||
Short-term notes payable | 1,171 | 1,147 | ||
Long-term debt | 20,320 | 24,696 | ||
Net fixed assets | 50,888 | 54,273 | ||
Accounts payable | 4,384 | 4,644 | ||
Inventory | 14,283 | 15,288 | ||
Dividends | 1,411 | 1,618 | ||
For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow to shareholders. (Negative amounts should be indicated by a minus sign. Do not round the intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.)
Cash flow from assets | $ |
Cash flow to creditors | $ |
Cash flow to shareholders | $ |
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