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Use the income statement and balance sheet shown below to develop the statement of cash flows YEART+1 Revenues COGS Gross Profit Operating Expenses Depreciation EBIT
Use the income statement and balance sheet shown below to develop the statement of cash flows
YEART+1 Revenues COGS Gross Profit Operating Expenses Depreciation EBIT $5,700.00 $4,560.00 $1,140.00 $500.00 $27.00 $613.00 Interest Expense $35.00 $578.00 Taxes $231.20 NI $ 346.80 Dividends $ 0.00 $346.80 ARE Balance Sheet YEAR T+1 YEART $120.00 $500.00 $340.00 Cash and Equivalents Accounts Receivable Inventory Total Current Assets Fixed Assets Accumulated Depreciation Net Fixed Assets Total Assets $714.80 $500.00 $300.00 $1,514.80 $660.00 $227.00 $433.00 $1,947.80 $960.00 $800.00 $200.00 $600.00 $1,560.00 $320.00 $300.00 $40.00 $50.00 Accounts Payable Short-Term Notes Payable Accruals Total Current Liabilities $11.00 $10.00 $360.00 $371.00 $780.00 Long-Term Debt $750.00 $1,151.00 $120.00 Total Liabilities Common Stock Retained Earnings Total Shareholders' Equity $1,110.00 $120.00 $330.00 $450.00 $676.80 $796.80 Total Liabilities & Shareholders' Equity $ 1,947.80 $1,560.00 YEART+1 Revenues COGS Gross Profit Operating Expenses Depreciation EBIT $5,700.00 $4,560.00 $1,140.00 $500.00 $27.00 $613.00 Interest Expense $35.00 $578.00 Taxes $231.20 NI $ 346.80 Dividends $ 0.00 $346.80 ARE Balance Sheet YEAR T+1 YEART $120.00 $500.00 $340.00 Cash and Equivalents Accounts Receivable Inventory Total Current Assets Fixed Assets Accumulated Depreciation Net Fixed Assets Total Assets $714.80 $500.00 $300.00 $1,514.80 $660.00 $227.00 $433.00 $1,947.80 $960.00 $800.00 $200.00 $600.00 $1,560.00 $320.00 $300.00 $40.00 $50.00 Accounts Payable Short-Term Notes Payable Accruals Total Current Liabilities $11.00 $10.00 $360.00 $371.00 $780.00 Long-Term Debt $750.00 $1,151.00 $120.00 Total Liabilities Common Stock Retained Earnings Total Shareholders' Equity $1,110.00 $120.00 $330.00 $450.00 $676.80 $796.80 Total Liabilities & Shareholders' Equity $ 1,947.80 $1,560.00Step by Step Solution
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