The following information for the year ended December 31, 2006, was reported by OSI Restaurant Partners, Inc.,
Question:
The following information for the year ended December 31, 2006, was reported by OSI Restaurant Partners, Inc., that owns and operates Outback Steakhouse and Carrabba's Italian Grill restaurants. Amounts are in millions of dollars.
Other information
Cash paid to purchase equipment ..................................... $ 384
Cash paid to suppliers and employees ...............................2,578
Cash received from customers .......................................... 2,946
Cash received from bank borrowings .................................. 375
Repayments of bank borrowings ......................................... 294
Cash received from sale of fixtures and equipment ................. 32
Other cash outflows from financing activities ........................ 62
Other cash outflows from investing activities .......................... 2
Additional investment by owners ........................................... 16
Withdrawals (distribution of profits to owners in cash) ............. 39
Required:
Prepare the four basic financial statements for 2006:
a. Income statement.
b. Statement of owners' equity.
c. Balance sheet.
d. Statement of cash flows.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
Principles Of Accounting
ISBN: 9780077300456
1st Edition
Authors: Robert Libby, Patricia Libby, Fred Phillips, Stacey Whitecotton