Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

YOU should complete the wrong options.(dividens paid part and cash used for additions to property...) The table below contains data on Fincorp Inc. The balance

YOU should complete the wrong options.(dividens paid part and cash used for additions to property...)image text in transcribed

The table below contains data on Fincorp Inc. The balance sheet items correspond to valueG at year-end 2015 and 2016while the Income statement tems correspond to revenues or expenses during the year ending In elther 2015 or 2016. All values are In thousands of dollars. $4,108 $4,288 1,788 1,880 498 335 570 Cost of goods sold Depreciation Inventories Adninistrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable 478 278 366 355 395 350 4,888 5,54 Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securrities 2,408 2,860 388 388 488 Taxes are pald In thelr entirety In the year that the tax obligation is Incurred. T Net fixed assets are fixed assets net of accumulated depreclation since the asset was Installed. Construct a statement of cash flows for Fincorp for 2016. (Negative amounts should be Indicated by a minus sign.) Answer is complete but not entirely correct. Fincorp Inc. Statement of cash flows ($ in 000s) Cash provided by operations Net income Noncash expenses Changes in working capital Change in accounts receivable Change in inventories Change in accounts payable 45) S (85) 35C Total change in working capital Cash used for operations |$ 1,155 Cash flows from investments Cash used for additions to property, plant and equipment Cash used for investments 140 Cash flows from financing activities Additions to notes payable Additions to long-term debt Dividends paid Cash used for financing activities 314 1,609 Net decrease in cash and cash equivalents The table below contains data on Fincorp Inc. The balance sheet items correspond to valueG at year-end 2015 and 2016while the Income statement tems correspond to revenues or expenses during the year ending In elther 2015 or 2016. All values are In thousands of dollars. $4,108 $4,288 1,788 1,880 498 335 570 Cost of goods sold Depreciation Inventories Adninistrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable 478 278 366 355 395 350 4,888 5,54 Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securrities 2,408 2,860 388 388 488 Taxes are pald In thelr entirety In the year that the tax obligation is Incurred. T Net fixed assets are fixed assets net of accumulated depreclation since the asset was Installed. Construct a statement of cash flows for Fincorp for 2016. (Negative amounts should be Indicated by a minus sign.) Answer is complete but not entirely correct. Fincorp Inc. Statement of cash flows ($ in 000s) Cash provided by operations Net income Noncash expenses Changes in working capital Change in accounts receivable Change in inventories Change in accounts payable 45) S (85) 35C Total change in working capital Cash used for operations |$ 1,155 Cash flows from investments Cash used for additions to property, plant and equipment Cash used for investments 140 Cash flows from financing activities Additions to notes payable Additions to long-term debt Dividends paid Cash used for financing activities 314 1,609 Net decrease in cash and cash equivalents

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Energy Finance And Economics Analysis And Valuation Risk Management And The Future Of Energy

Authors: Betty Simkins, Russell Simkins

1st Edition

1118017129, 978-1118017128

More Books

Students also viewed these Finance questions