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You will need to complete the 2017 Cash Flow Statement. In addition, you will also prepare the Common Sized Financial Statements for the 2 years
You will need to complete the 2017 Cash Flow Statement. In addition, you will also prepare the Common Sized Financial Statements for the 2 years shown.
Bob Smith, Inc. Common Sized Financial Statement | ||||||
Assets | ||||||
2016 | 2017 | Change from 2016 to 2017 | ||||
Net Sales | $3,155,848 | |||||
Amount | Percent | Amount | Percent | Amount | Percent | |
Cash | $16,566 | 0.65% | $33,411 | 1.2% | $16,845 | 0.01% |
Accounts Receivable | $318,768 | 12.5% | $260,205 | 9.8% | $58,563 | 0.11% |
Inventory | $352,740 | 13.9% | $423,819 | 15.9% | $71,079 | 0.13% |
Other Current Assets | $29,912 | 1.1% | $41,251 | 1.5% | ($11,339) | 0.01% |
Plant, Property & Equipment | $1,403,220 | 55.3% | $1,512,675 | 57% | $109,455 | |
Goodwill & Other Assets | $412,565 | 16.2% | $382,145 | 14.4% | $30,420 | 0.13% |
Total Assets | $2,533,771 | $2,653,506 | ($119,735) | |||
Liabilities & Equity | ||||||
Accounts Payable | $332,004 | 13% | $378,236 | 14.2% | $46,232 | 1.2% |
Wages Payable | $7,862 | 0.31% | $14,487 | 0.54% | $6,625 | 0.53% |
Accrued Income Taxes | $16,815 | 0.66% | $21,125 | 0.79% | $4,310 | 0.78% |
Total Current Liabilities | $356,681 | 14% | $413,848 | 15.5% | $57,167 | 13.3% |
Long-term Debt Bank Notes | $793,515 | 31.3% | $679,981 | 25.6% | $113,534 | 17.5% |
Total Liabilities | $1,150,196 | 45.3% | $1,093,829 | 41.2% | $56,367 | 22.5% |
Total Common Equity | $1,383,575 | 54.6% | $1,559,677 | 58.7% | $176,102 | 26.6% |
Total Liabilities & Equity | $2,533,771 | $2,653,506 | $119,735 | |||
Bob Smith, Inc. Statement of Cash Flows for the Year End December 31, 2017 | |
Period Ending: | Dec-17 |
Cash flows from operating activities | |
Net Income | $3,155,848 |
Depreciation | $212,366 |
Accounts Receivable | $58,563 |
Inventory | ($71,079) |
Other Current Assets | ($11,339) |
Accounts Payable | $46,232 |
Wages Payable | $6,625 |
Taxes | ($225,700) |
Accrued Income Taxes | $4,310 |
Net cash provided by operation activities | |
Cash flow from investing activities: | |
Goodwill and other assets | $30,420 |
PP&E | ($109,445) |
Depreciation | ($212,366) |
Net cash from Investments | |
Cash flows from financing activities | |
Long-term debt bank notes | (113,534) |
Dividends paid | $2,966,412 |
Tax | |
Net cash used in financing activities | |
Net increase (decrease) in cash & cash | $16,845 |
Cash start of period | $33,411 |
Cash end of period | $16,566 |
Quick Ratio | 0.44 |
Current Ratio | 1.83 |
Please review my calculations and help me figure out what I did wrong
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