Comparative balance sheet accounts of Marcus Inc. are presented below MARCUS INC

Question

Comparative balance sheet accounts of Marcus Inc. are presented below MARCUS INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2014 AND 2013 December 31 ebit Accounts Cash Accounts Receivable Inventory Investments (available-for-sale) Machinery Buildings Land 2014 2013 $34,040 59,940 24,330 38,750 19,030 55,750 7,660 $269,080 $239,500 $41,680 70,700 29,430 22,610 29,810 67,190 7,660 Credit Accounts Allowance for Doubtful Accounts Accumulated Depreciation-Machinery Accumulated Depreciation-Buildings Accounts Payable Accrued Payables Long-Term Notes Payable Common Stock, no-par Retained Earnings $1,170 1,940 8,970 24,260 2,791 31,290 124,100 44,979 $269,080 $239,500 $2,320 6,520 13,750 35,580 3,193 21,370 150,000 36,347

Explanation / Answer

Marcus Inc. Statement of cash flows Cash flow from operating activities Net income 38,898 Depreciation expense 10,121 Gain on sale of investments -3,240 Loss on sale of machinery 828 increase in accounts receivable -9,610 increase in inventory -5,100 increase in accounts payable 11,320 increase in accured payables 402 net cash provided by operating activities 43,619 Cash flow from investing activities Sale of investments 28,170 purchase of investments -8,790 Sale of machinery 1,791 Purchase of machinery -14,160 Purchase of buildings -11,440 Net cash used by investing activities -4,429 Cash flow from financing activities payment of long term note payable -9,920 payment of cash dividends -21,630 net cash used by financing activities -31,550 Net increase in cash 7,640 Cash at the beginning of the year 34,040 Cash at end of year 41,680 Cash from suppliers= sales - increase in accounts receivable 527366 Cash paid to suppliers & employers= cost of goods sold+increase in inventory - increase in accounts payable 373450 Cash paid for expenses = operating expenses - non cash expenses + increase in accrued payables 110297 Net cash from operating activities Cash from suppliers 527366 less: Cash paid to suppliers -373450 cash paid for expenses -110297 Net cash from operating activities 43619

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