Question
Use the following information to create an income statement and balance sheet for 2016 and 2017; assume the tax rate is 34%. Then, using those
Use the following information to create an income statement and balance sheet for 2016 and 2017; assume the tax rate is 34%. Then, using those statements, calculate for 2017: Cash flow from assets Cash flow to creditors Cash flow to stockholders 2016 2017 Sales 25,460 28,458 Depreciation expense 3,654 3,820 Cost of goods sold 8,754 10,356 Other expenses 2,082 1,812 Interest expense 1,708 2,038 Cash 13,348 14,226 Accounts receivable 17,674 20,742 Short-term notes payable 2,576 2,524 Long-term debt 44,704 54,198 Net fixed assets 111,954 119,400 Accounts payable 9,644 10,216 Inventory 31,422 33,634 Dividends 3,044 3,560
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