Answered step by step
Verified Expert Solution
Question
1 Approved Answer
USE THE INFORMATION BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS Proxelo, Inc. Balance Sheets For the Years Ending December 31, Cash Accounts receivable Inventory Current
USE THE INFORMATION BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS Proxelo, Inc. Balance Sheets For the Years Ending December 31, Cash Accounts receivable Inventory Current Assets Gross fixed assets (Accumulated depreciation) Net fixed assets Land Total Assets 2018 1,500 3,740 10,120 15,360 56,100 (9,590) 46,510 1,500 63,370 2019 1,560 4,110 8,760 14,430 64,570 (12,150) 52,420 10,000 76,850 1,000 2,260 Notes payable Accounts payable Accruals Current portion of long-term debt Current Liabilities Long-term debt Common stock (par value = $0.25) Additional paid in capital Retained earnings Total Liabilities & Equity 1,570 470 5,300 37,750 1,000 4,800 14,520 63,370 900 4,030 1,710 880 7,520 36,850 2,500 10,660 19,320 76,850 Additional Data from 2019 Income Statement: Sales in 2019 Net income in 2019 387,620 27,960 25. Calculate the Cash flows from operating activities for 2019. 26. Calculate the Cash flows from investing activities for 2019. 27. Calculate the Cash flows from financing activities for 2019. USE THE DATA IN THE TABLE BELOW TO ANSWER QUESTIONS 19-24 (Assume all account figures are in dollars) Accounts payable Accounts receivable, net Accruals Cash Capital surplus Common stock Cost of goods sold Depreciation expense Interest expense Inventory (end of year) Long-term debt Net fixed assets Net sales Notes payable Operating expenses (excluding depreciation) Retained earnings Taxes 2018 710 2,450 70 ??? 1,260 990 7,190 1,610 240 5,110 6,320 9,390 12,830 800 2,310 8,210 350 2019 660 2,620 140 ??? 1,620 1,120 7,630 1,730 210 4,960 6,130 9,860 13,950 730 2,530 8,430 460 22. Cash flow from operating activities in 2019 is $ 23. Cash flow from investing activities in 2019 is $ 24. Cash flow from financing activities in 2019 is $
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