Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the data in the tables below, compute Net Cash Flow from Operating Activities for Crimson Penguin, Inc. for Year 2: Crimson Penguin, Incorporated Balance
Using the data in the tables below, compute Net Cash Flow from Operating Activities for Crimson Penguin, Inc. for Year 2: Crimson Penguin, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts recelvable Inventory Total current assets Gross fixed assets (Accumulated depreciation) Net fixed assets Total assets Year 1 19,300 30,880 200.720 250,900 193,000 (57,900) 135,100 386,000 Year 2 16,080 20,100 229.140 265,320 205,020 (68,340 136,680 402.000 Notes payable Accounts payable Accruals Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity 30.880 69,480 7,720 108,080 54,040 11.580 115,800 96,500 386,000 40,200 76,380 12,060 128,640 28,140 20,100 124,620 100,500 402,000 Additional Data from Company Income Statement(s); Sales in Year 2 = 831,000 Net income in Year 2 = 17,260 Inventory Total current assets Gross fixed assets" (Accumulated depreciation) Net fixed assets Total assets 200.720 250,900 193,000 (57,900) 135,100 386,000 229.140 265,320 205,020 (68,340) 136.680 402,000 Notes payable Accounts payable Accruals Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity 30,880 69,480 7.720 108,080 54,040 11,580 115,800 96,500 386,000 40,200 76,380 12.060 128,640 28,140 20,100 124,620 100,500 402.000 Additional Data from Company Income Statement(s); Sales in Year 2 = 831,000 Net income in Year 2 = 17,260 Record your answer as a dollar amount with no decimal places, but do not record a dollar sign or any commas. For example, record $10,280.38 as 10280. If your answ is a negative amount, put a hyphen before the number with no space between the number and the hyphen. For example, record negative 38 as -38. Your
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