w Problem 2-28 Statement of Cash Flows (LG2-5) Use the balance sheet and income statement below: 2018 $ 56 186 153 Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets VALIUM'S MEDICAL SUPPLY CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in thousands of dollars) 2018 2017 Liabilities and Equity Current liabilities: $ 77 $ 76 Accrued wages and taxes 191 Accounts payable 322 296 Notes payable $ 590 $ 558 Total Long-term debt $1,088 $ 892 Stockholders' equity: 156 118 Preferred stock (6 thousand shares) $ 932 $ 774 Common stock and paid-in surplus (100 thousand shares) 144 144 Retained earnings $1,076 $ 918 Total $1,666 $1,476 Total liabilities and equity HH 136 $ 345 $ 591 $ 6 120 604 $ 730 $1,666 2018 2017 $ VALIUM'S MEDICAL SUPPLY CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in thousands of dollars) 2018 2017 Liabilities and Equity Current liabilities: $ 77 $ 76 Accrued wages and taxes 191 186 Accounts payable 322 296 Notes payable $ 590 $ 558 Total Long-term debt $1,088 $ 892 Stockholders' equity: 156 118 Preferred stock (6 thousand shares) $ 932 $ 774 Common stock and paid-in surplus (100 thousand shares) 144 144 Retained earnings $1,076 $ 918 Total $1,666 $1,476 Total liabilities and equity $ 56 153 136 $ 345 $ 591 46 146 136 328 566 $ $ 6 120 604 $ 730 $1,666 $ 6 120 456 $ 582 $1,476 38 VALIUM'S MEDICAL SUPPLY CORPORATION Income Statement for Years Ending December 31, 2018 and 2017 (in thousands of dollars) 2018 2017 Net sales $ 902 $ 812 Less: Cost of goods sold 394 357 Gross profits $ 508 $ 455 Less: Other operating expenses 52 46 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 456 $ 499 Less: Accumulated depreciation 36 Earnings before interest and taxes (EBIT) $ 418 $ 373 Less: Interest 53 47 Earnings before taxes (EBT) $ 365 $ 326 Less: Taxes 136 Net income $ 229 $ 210 Less: Preferred stock dividends $ 6 $ 6 Net income available to common stockholders $ 223 $ 204 Less: Common stock dividends 75 75 Addition to retained earnings $ 148 $ 129 Per (common) share data: Earnings per share (EPS) $2.23 $2.04 Dividends per share (DPS) $0.75 $0.75 Book value per share (BVPS) $7.24 $5.76 Market value (price) per share (MVPS) $8.27 $6.24 116 110 Prepare a statement of cash flows for Valium's Medical Supply Corporation. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows for Year Ending December 31, 2018 (in thousands of dollars) Cash flows from operating activities Additions (sources of cash): Subtractions (uses of cash): Net cash flow from operating activities Cash flows from investing activities Subtractions: Net cash flow from investing activities Cash flows from financing activities Additions: Subtractions (uses of cash): Net cash flow from operating activities Cash flows from investing activities Subtractions: Net cash flow from investing activities Cash flows from financing activities Additions: Subtractions: Net cash flow from financing activities Net change in cash and marketable securities
