Question
Using the information below, what should be a part of the statement of cash flows? BBCC Income Statement for 2018 and 2019 (thousand dollars) 2018
Using the information below, what should be a part of the statement of cash flows?
BBCC Income Statement for 2018 and 2019 (thousand dollars)
2018 | 2019 | |
Sales | $40,909 | $45,000 |
Cost of Goods Sold | $20,909 | $23,000 |
Gross Profit | $20,000 | $22,000 |
Selling and Administrative Expenses | $11,818 | $13,000 |
Depreciation Expense | $2,000 | $3,000 |
Operating Income (EBIT) | $6,182 | $6,000 |
Interest Expense | $400 | $412 |
Earnings before Taxes (EBT) | $5,782 | $5,588 |
Income Taxes (@ 40%) | $2,313 | $2,235 |
Net Income (NI) | $3,469 | $3,353 |
Dividends Paid (@ 21.86%) | $758 | $733 |
BBCC Balance Sheet as of End of 2018 and 2019 (thousand dollars)
2018 | 2019 | |
Assets: |
|
|
Cash | $2,000 | $1,800 |
Accounts Receivable (net) | $6,000 | $7,600 |
Inventory | $5,000 | $5,220 |
Plant and Equipment (gross) | $26,000 | $31,000 |
Less: Accumulated Depreciation | $10,000 | $13,000 |
Plant and Equipment (net) | $16,000 | $18,000 |
Land | $1,000 | $1,000 |
Liabilities: | ||
Accounts Payable | $2,000 | $2,600 |
Notes Payable | $3,000 | $3,300 |
Accrued Expenses | $3,000 | $3,100 |
Bonds Payable | $4,000 | $4,000 |
Stockholders Equity: | ||
Common Stock | $4,000 | $4,000 |
Retained Earnings | $14,000 | $16,620 |
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