USE THE INFORMATION BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS

PLEASE LABEL ANSWERS CLEARLY!!!!! THANK YOU!

Mellon Company
Balance Sheet
For the Years Ending December 31, 2015 and 2016
(All figures in dollars)
	2015		2016
Cash	1,800		1,820
Account receivable	3,990		4,210
Inventory	10,300		9,450
Total current assets	16,090		15,480
Gross fixed assets	55,400		63,840
(Accumulated depreciation)	(9,780)		(11,050)
Net fixed assets	45,620		52,790
Total assets	61,710		68,270
Notes payable	700		1,000
Accounts payable	2,260		4,150
Accruals	1,610		1,800
Current portion of LT debt	470		1,730
Total current liabilities	5,040		8,680
Lont-term debt	37,750		34,790
Common stock	1,150		1,500
Paid in capital	4,980		9,460
Retained earnings	12,790		13,840
Total liabilities and equity	61,710		68,270
Additional Data from 2016 Income Statement:
Sales in 2016			238,000
Net income in 2016			9,980

25. Calculate the Cash flows from operating activities for 2016.

26. Calculate the Cash flows from investing activities for 2016.

27. Calculate the Cash flows from financing activities for 2016.

USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 28 through 30

Sales	$ 240,000
Gross profit margin	25%
Inventory turnover ratio (Cost of goods sold/Inventory)	20
Net profit margin	4%
Average collection period	45
Return on equity	20%
Accumulated depreciation	$ 15,000
Return on assets	12.5%
Accounts payable days	18
Notes payable	$ 1,800
Gross fixed assets	$ 48,000
Percent of sales on credit (remainder are cash sales)	75%
NOTE: Assume a 360 day year for all ratios, etc.

Assume that the only accounts on the balance sheet are those listed below. Fill in this chart with the data provided and then answer questions 28, 29 and 30.

Cash...... Notes Payable Accounts receivable..... Accounts Payable

Inventory...... Long-term debt Gross fixed assets ...... Equity

(Accumulated depreciation) ...... Total liab & Equity

Net fixed assets

Total assets

28. Cash = ____________.

29. Long-term debt = ____________.

30. Total assets =____________.

USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34

Number of shares outstanding	15000		Average collection period (days)	60
Sales	$200,000		Accounts payable days	90
Gross profit margin	20%		Retained earnings (2015)	$23,700
Inventory turnover ratio	4		Dividend payout ratio	80%
Notes payable	$8,000		Accruals	$4,000
Net profit margin	15%		Current ratio	1.5
Return on assets	8%		Debt ratio	40%

Note: Of total sales, 60 percent are on credit and the remainder are cash sales. Assume a 360-day year. All data in the table above, unless otherwise stated, is for the year 2016.

Cash Accounts receivable Inventory Net fixed assets

Total assets

__________ __________ __________ __________ __________

Notes payable Accounts payable Accruals Long-term debt Common stock ($2 par value) Capital surplus

Retained earnings Total liab. & equity

__________ __________ __________ __________ __________ __________ __________ __________

31. Cash = ____________. 32. Long-term debt = ____________.

33. Total assets =____________. 34. Capital surplus = __________.