2. Svoboda Corporation comparative balance sheets at December 31 (in millions) 2

Question

2. Svoboda Corporation comparative balance sheets at December 31 (in millions) 20x2 20x2 ASSETS Cash Accounts receivable Inventories Fixed assets, net Other assets 20x1 $ 5 15 un GGN LIABILITIES AND SHAREHOLDERS' EQUITY 20X1 Notes payable $20 Accounts payable Accrued wages Accrued taxes Long-term debt Common stock Retained earnings Total liabilities and shareholders' equity $90 o w N un 50 8 G un N 00 44 Total assets $90 $100 $100 Svoboda Corporation statement of income and retained earnings, year ended December 31, 20X2 (in millions) $48 $25 Sunn Net sales Expenses Cost of goods sold Selling, general, and administrative expenses Depreciation Interest Net income before taxes Less: Taxes Net income Add: Retained earnings at 12/31/X1 Subtotal Less: Dividends Retained earnings at 12/31/X2 Kl. Ela SLA EN a. Prepare a flow of funds (sources and uses of funds) statement for 20X2 for the Svoboda Corporation.

Explanation / Answer

a

b

Svoboda Corporation Sources and Used of Fund Statement For December 31 20X1 to December 31 20x2 Sources Uses Fund Provided By Operation Net Profit 7 Dividend 3 Depreciation 5 Addition to Fixed Asset 10 Decrease other Asset 3 Increase account receivable 7 Increase account Payable 3 Increase Inventory 3 Increase Accrued Tax 2 Decrease ,Note Payable 20 Increase Long Term Debt 15 Increase Common Stock 6 Decrease ,Cash and Equivalent 2 43 43

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