Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is given. (Use a minus sign to indicate negative values. Round each entry to 2 decimal places.)
Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is given. (Use a minus sign to indicate negative values. Round each entry to 2 decimal places.) Windswept Woodworks, Inc. Input Data (millions of dollars) Year 2 Accounts payable 484 Accounts receivable 1,328 Accumulated depreciation 6,794 Cash & equivalents 272 Common stock 1,232 Cost of goods sold 1,500 Depreciation expense ? Common stock dividends paid ? Interest expense 140 Inventory 1,062 Addition to retained earnings 602 Long-term debt 860 Notes payable 230 Gross plant & equipment 10,260 Retained earnings 3,110 Sales 3,018 Other current liabilities 116 Tax rate 34% Market price per share year end $ 19.80 Number of shares outstanding 500.00 million Year 1 424 870 6,672 168 1,160 n.a. n.a. n.a. n.a. 1,066 n.a. 776 380 10,000 2,516 n.a. 96 n.a. 17.50 500.00 million $ Cash balance on December 31, year 1 $ 168 $ 828.96 Cash flows from operations Net income Add: depreciation expense Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in notes payable Increase in other current liabilities Total cash flow from operations $ Cash flows from investment activities Increase in gross plant and equipment Total cash flow from investments $ $ Cash flows from financing activities Increase in long-term debt Increase in common stock Cash dividends paid to common stockholders Total cash flow from financing $ Net change in cash balance $ Cash balance on December 31, year 2 $ Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is given. (Use a minus sign to indicate negative values. Round each entry to 2 decimal places.) Windswept Woodworks, Inc. Input Data (millions of dollars) Year 2 Accounts payable 484 Accounts receivable 1,328 Accumulated depreciation 6,794 Cash & equivalents 272 Common stock 1,232 Cost of goods sold 1,500 Depreciation expense ? Common stock dividends paid ? Interest expense 140 Inventory 1,062 Addition to retained earnings 602 Long-term debt 860 Notes payable 230 Gross plant & equipment 10,260 Retained earnings 3,110 Sales 3,018 Other current liabilities 116 Tax rate 34% Market price per share year end $ 19.80 Number of shares outstanding 500.00 million Year 1 424 870 6,672 168 1,160 n.a. n.a. n.a. n.a. 1,066 n.a. 776 380 10,000 2,516 n.a. 96 n.a. 17.50 500.00 million $ Cash balance on December 31, year 1 $ 168 $ 828.96 Cash flows from operations Net income Add: depreciation expense Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in notes payable Increase in other current liabilities Total cash flow from operations $ Cash flows from investment activities Increase in gross plant and equipment Total cash flow from investments $ $ Cash flows from financing activities Increase in long-term debt Increase in common stock Cash dividends paid to common stockholders Total cash flow from financing $ Net change in cash balance $ Cash balance on December 31, year 2 $
