XCIO Question 19 Glven are the financial statements for ACME Corporation. In order to calculate cash flow fo the flow of cash from depreciation amount in the balance sheet? Income Statement: 12/31/2010 Sales $1,300,000 Cost of Goods Sold 750,000 Operating 200,000 Expenses Depreciation 100,000 Expense EBIT 250,000 Interest Expense 50,000 EBT 200,000 Taxes 80,000 Net Income $120,000 Balance Sheets 12/31/2009 12/31/2010 Current Assets $50,000 Gross Fixed Assets 880,000 Less Accumulated Depreciation 450,000 Fixed Assets 430,000 Total Assets $480,000 $45,000 650,000 350,000 350,000 $395,000 $35,000 $50,000 Current Liabilities 4 XCO Interest Expense 50,000 EBT 200,000 Taxes 80,000 Net Income $120,000 Balance Sheets 12/31/2010 Current Assets $50,000 Gross Fixed Assets 880,000 Less Accumulated Depreciation 450,000 Fixed Assets 430,000 Total Assets $480,000 12/31/2009 $45,000 650,000 350,000 350.000 $395,000 $35.000 $50,000 270.000 Current Liabilities Long-term Debt Common Stock Retained Earnings Total Liabilities & Equity 330,000 5,000 5,000 110,000 $480,000 70,000 $395.000 $200,000 source of cash $200.000 use of cash $100,000 source of cash $100,000 use of cash ndon