Question
Use the income statement and the list of changes to answer the question. Hopewell Corporation Income Statement January 1 to December 31, 2019 (amounts in
Use the income statement and the list of changes to answer the question.
Hopewell Corporation Income Statement January 1 to December 31, 2019 (amounts in thousands) | |
---|---|
Revenue | 9,100 |
Cost of Goods Sold (COGS) | 3,640 |
Gross Income | 5,460 |
Sales, General, & Administrative Expenses (SG&A) | 1,820 |
Depreciation Expense | 900 |
Other Expenses | 500 |
Earnings Before Interest & Taxes (EBIT) | 2,240 |
Interest | 200 |
Pre-Tax Income | 2,040 |
Income Taxes | 714 |
Net Income | 1,326 |
Between January 1 and December 31, 2019:
1. Accounts Receivable decrease by $500,000 2. Accounts Payable increase by $200,000 3. Gross Property, Plant, & Equipment increase by $700,000 4. Long Term Debt increases by $300,000
Assume no other changes
What is the Net Cash Flow?
Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars.
Please specify your answer in the same units as the financial statements (i.e., enter the number from your completed statement of cash flows).
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