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You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the
You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $81 million in current taxes and had an interest expense of $38 million. |
TIME MANUFACTURING Statement of Cash Flows ($ in millions) | ||
Operations | ||
Net income | $ | 187 |
Depreciation | 74 | |
Deferred taxes | 11 | |
Changes in assets and liabilities | ||
Accounts receivable | 12 | |
Inventories | 15 | |
Accounts payable | 11 | |
Accrued expenses | 6 | |
Other | 2 | |
Total cash flow from operations | $ | 282 |
Investing activities | ||
Acquisition of fixed assets | $ | 194 |
Sale of fixed assets | 19 | |
Total cash flow from investing activities | $ | 175 |
Financing activities | ||
Retirement of long-term debt | $ | 145 |
Proceeds from long-term debt sales | 110 | |
Dividends | 67 | |
Repurchase of stock | 32 | |
Proceeds from new stock issue | 39 | |
Total cash flow from financing activities | $ | 95 |
Change in cash (on balance sheet) | $ | 12 |
1. | Calculate the operating cash flow. |
2. | Calculate the capital spending. |
3. | Calculate the net working capital cash flow. |
4. | Calculate the cash flow to creditors. |
5. | Calculate the cash flow to stockholders. |
(For all requirements, enter your answer in millions, for example, 10.2 million would be entered as 10.2.) |
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