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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
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 | Year 1 | |||||
Accounts payable | 424 | 374 | ||||
Accounts receivable | 1,268 | 820 | ||||
Accumulated depreciation | 6,734 | 6,622 | ||||
Cash & equivalents | 212 | 118 | ||||
Common stock | 1,172 | 1,110 | ||||
Cost of goods sold | 1,500 | n.a. | ||||
Depreciation expense | ? | n.a. | ||||
Common stock dividends paid | ? | n.a. | ||||
Interest expense | 140 | n.a. | ||||
Inventory | 1,002 | 1,016 | ||||
Addition to retained earnings | 602 | n.a. | ||||
Long-term debt | 800 | 726 | ||||
Notes payable | 230 | 380 | ||||
Gross plant & equipment | 10,260 | 10,000 | ||||
Retained earnings | 3,050 | 2,466 | ||||
Sales | 3,018 | n.a. | ||||
Other current liabilities | 116 | 96 | ||||
Tax rate | 34 | % | n.a. | |||
Market price per share year end | $ | 19.80 | $ | 17.50 | ||
Number of shares outstanding | 500.00 | million | 500.00 | million | ||
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