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Using the data in the tables below, compute Net Cash Flow from Operating Activities for Eureka Ruby, Inc. for Year 2: Eureka Ruby, Incorporated
Using the data in the tables below, compute Net Cash Flow from Operating Activities for Eureka Ruby, Inc. for Year 2: Eureka Ruby, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 14,860 15,050 Accounts receivable 267,480 240,800 Inventory 118,880 150,500 Total current assets 401,220 406,350 Net fixed assets 965,900 978,250 Land 118,880 120,400 Total assets 1,486,000 1,505,000 Notes payable 74,300 60,200 Accounts payable 178,320 150,500 Accruals 44,580 60,200 Current portion of LT Debt 193,180 210,700 Total current liabilities 490,380 481,600 Long-term debt 460,660 466,550 Common stock 44,580 60,200 Capital surplus 178,320 195,650 Retained earnings 312,060 301,000 Total liabilities and equity 1,486,000 1,505,000 Additional Data from Company Income Statement(s): Sales in Year 2 = 5,792,000 .Net income in Year 2 33,410 Depreciation expense in Year 1 - 250,020 Depreciation expense in Year 2 = 299,630
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