A statement of Cash Flows for 2017 in excel Sunflower Designs Balance Sheet As o

Question

A statement of Cash Flows for 2017 in excel Sunflower Designs Balance Sheet As of March 31, 2016 and March 31, 2017 USD (S) in Milion USD ($) in Millions Current Assets 2016 2017 Cash and cash equivalents Accounts Receivable, net 1,069 $ 1,760 4,179 2,126 1,811 Other current assets 285 8,613 321 Total Current Assets 7,329 Long-Term Assets Property and equipment, net Intangible assets, net 9,105 229 9,334 16,663 8,852 220 9,072 17,685 Total Long-Term Assets Total Assets Current Liabilities 1401 $ 1375 Accounts payable Accrued liabilities Income taxes payable Current portion of long-term debt 1,356 135 127 3,019 1,510 115 139 3,139 Total Current Liabilities Non-current Liabilities Long-term debt 6,470 9,609 Total Liabilities 9,074 Shareholders' Equity Common stock 367 and 370 shares issued & OS Paid-in capital Treasury stock, at cost, 166&184 Retained earnings 2,957 9,714) 7,589 16,663$ 3,182 (10,186) 15 Total Shareholders' Equity Total Liabilitles and Shareholders' Equity 8,076 17,685 Additional Information There were no purchases or sales of intangible assets. - Any change from 2016 to 2017 relates to amortization. The company purchased $1,150 in equipment during the year The company sold equipment costing $300 for $350 The company made payments of $73 on its debt obligations. The company took an additional $500 in debt during the year The company sold stock for $225 during the year. The company purchased treasury stock of $472 during the year. There were no other stock transactions during the year

Explanation / Answer

Prepare the statement of cash flows as follows:

S Designs Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities: Net income 749 Adjustments to reconcile net income with the net cash provided by operating activities Depreciation and amortization 1112 Gain on sale of equipment -50 Increase in accounts receivable (1,811 - 1,760) -51 Increase in merchandise inventory (4,391 - 4,179) -212 Decrease in other current assets (321 - 285) 36 Decrease in accounts payable (1,401 - 1,375) -26 Increase in accrued liabilities (1,510 - 1,356) 154 Decrease in income taxes payable (135 - 115) -20 Net cash provided by operating activities 1692 Cash flows from investing activities: Cash paid tob purchase equipment -1150 Cash received from sale of equipment 350 Net cash used in investing activities -800 Cash flows from financing activities: Payments made on debt obligations -73 Cash received from additional debt 500 Cash received from issue of stock 225 Cash paid to purchase treasury stock -472 Dividends paid (14,342 + 749 - 15,076) -15 Net cash provided by financing activities 165 Net increase in cash and cash equivalents 1057 Cash and cash equivalents at prior year-end 1069 Cash and cash equivalents at current year-end 2126

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