Momber\'s Flooring Company 2007 2008 Cash 500 800 Accounts receivable 1,400 1,20

Question

Momber's Flooring Company


2007


2008
Cash

500


800
Accounts receivable

1,400


1,200
Inventory

3,900


4,400
Net fixed assets

8,200


8,200
Land

1,000


2,000
Total Assets

15,000


16,600




Notes payable

1,000


600
Accounts payable

3,000


2,000
Accruals

500


900
Long-term debt

3,600


5,400
Common Stock

2,500


2,200
Retained earnings

4,400


5,500
Total Liabilities and Equity

15,000


16,600

NOTE: Although this problem is similar to the previous problem, some elements differ such that you must solve the answer for this problem independent of your answer to the previous questions.

Given the Balance Sheets for Momber's Flooring Company above for the years ending December 31, 2007 and 2008, find Net Cash Flows from Financing Activities for 2008 assuming the following income statement data:

Net income (2008) = $3,271 and Depreciation (2008) = $1,766

Explanation / Answer

Dont just copy and paste. Copy paste and organize the texts to someone can interpret how to read the whole thing

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