Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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 $99.6 million in current taxes and had an interest expense of $49.6 million. TIME MANUFACTURING Statement of Cash Flows ($ in millions) $ 189.0 95.6 20.6 Operations Net income Depreciation Deferred taxes Changes in assets and liabilities Accounts receivable Inventories Accounts payable Accrued expenses Other -19.6 23.6 18.6 -10.6 4.6 Total cash flow from operations $ 321.8 Investing activities Acquisition of fixed assets Sale of fixed assets -$ 199.0 24.6 Total cash flow from investing activities -$ 174.4 -$ Financing activities Retirement of long-term debt Proceeds from long-term debt sales Dividends Repurchase of stock Proceeds from new stock issue 178.0 135.0 -102.0 -29.0 60.0 Total cash flow from financing activities $ 114.0 Change in cash (on balance sheet) $ 33.4 1. Calculate the operating cash flow. (Do not round intermediate calculations. Enter your answer in millions, for example, 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign.) Operating cash flow $ 2. Calculate the capital spending. (Do not round intermediate calculations. Enter your answer in millions, for example, 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign.) Capital spending $ 3. Calculate the net working capital cash flow. (Do not round intermediate calculations. Enter your answer in millions, for example, 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign.) Net working capital cash flow $ 4. Calculate the cash flow to creditors. (Do not round intermediate calculations. Enter your answer in millions, for example, 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign.) Cash flow to creditors $ 5. Calculate the cash flow to stockholders. (Do not round intermediate calculations. Enter your answer in millions, for example, 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign.) Cash flow to stockholders
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started