Comparalive financial statement data for Carmono Company follow Assets Cash Acco

Question

Comparalive financial statement data for Carmono Company follow Assets Cash Accounts receivable Inventory $ 7.50 $ 14.00 50.00 43.00 92.50 79.20 Total current assets 150.00 136.20 Property, plant, and equipment 231.00 194.00 45.60 34.20 185.40 159.80 $335.40 $296.00 Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 5550 $ 46.00 118.00 91.00 161.90159.00 Total liabilities and stockholders equity $ 33540 $296.00 For this year, the company reported net income as follows Sales Cost of goods sold 850,00 510 00 40.00 Gross margin Seling and administrative expenses820 Net income s 2000 s year Camono dedared and paid a casn dvidene There were no sales of property plent vn stock this year an

Explanation / Answer

Carmono Company

Statement of Cash flows for this year ended December 31

Ending retained earnings = Beginning retained earnings + net income - dividend paid

$161.90 = $159 + $20 - dividends paid

Dividends paid = ($17.1).

Free cash flows = Operating cash flows - capital expenditure

= $20.6 - $37

= ($16.4).

Particulars Amount($) Cash flows from operating activities: Net income $20 Depreciation $11.4 Adjustments: Increase in accounts receivable ($7) Increase in inventory ($13.30) Increase in accounts payable $9.50 Net cash provided by operating activities $20.6 Cash flows from investing activities: Purchase of equipment ($37) Net cash used by investing activities ($16.4) Cash flows from financing activities: Issue of common stock $27 Dividends paid ($17.1)* Net cash used by financing activities ($6.5) Beginning cash balance $14 Ending cash balance $7.5

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