Can you create and income statement and balance sheet for 2010 and 2011 from thi
ID: 2364381 • Letter: C
Question
Can you create and income statement and balance sheet for 2010 and 2011 from this information. And calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders 2010 2011 Sales 11,573 12,936 Depreciation 1,661 1,736 Cost of Goods Sold 3,979 4,707 Other Expenses 946 824 Interest 776 926 Cash 6,067 6,466 Account Receivable 8,034 9,427 Short-Term Notes Payable 1,171 1,147 Long-term Debt 20,320 24,696 Net Fixed Assets 50,888 54,273 Accounts Payable 4,384 4,644 Inventory 14,283 15,288 Dividends 1,411 1,618Explanation / Answer
Cost of goods sold $3,979.00 $4,707.00
Other expenses $946.00 $824.00
Depreciation $1,661.00 $1,736.00
Earnings before interest and taxes $4,987.00 $5,669.00
Interest paid $776.00 $926.00
Taxable Income $4,211.00 $4,743.00
Taxes 34% $1,431.74 $1,612.62
Net Income $2,779.26 $3,130.38
Dividends $1,411.00 $1,618.00
Addition to retained earnings $1,368.26 $1,512.38
Taco Swell Incorporated
Cash Flow
2010 2011
Earnings before interest and taxes $4,987.00 $5,669.00
plus Depreciation $1,661.00 $1,736.00
minus taxes 1431.74 $1,612.62
Operating Cash Flow $5,216.26 $5,792.38
Ending net fixed assets $50,888.00 $54,273.00
minus beginning net fixed assets $0.00 $50,888.00
plus depreciation $1,661.00 $1,736.00
Net Capital Spending $52,549.00 $5,121.00
Ending NWC $54,210.00 $31,181.00
minus beginning NWC $5,555.00 $5,791.00
Change in NWC $48,655.00 $25,390.00
Operating cash flow $5,216.26 $5,792.38
minus net capital spending $52,549.00 $5,121.00
minus change in NWC $48,655.00 $25,390.00
Cash flow from assets -$95,987.74 -$24,718.62
Interest paid $776.00 $926.00
minus net borrowing $20,320.00 $4,376.00
Cash flow to creditors -$19,544.00 -$3,450.00
Dividends paid $1,411.00 $1,618.00
minus new equity raised
Cash flow to stockholders
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