Momber\'s Flooring Company 2007 2008 Cash 500 800 Account Receivable 1400 1200 I

Question

Momber's Flooring Company

2007 2008



Cash 500 800

Account Receivable 1400 1200

Inventory 3900 4400

Net Fixed Assets 8200 8200

Land 1000 2000

Total Assets 15000 16600



Notes Payable 1000 600

Accounts Payable 3000 2000

Accruals 500 900

Long Term debt 3600 5400

Common Stock 2500 2200

Retained Earnings 4400 5500

Total Liabilities and Equity 15000 16600




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

Net income (2008) = $3,209 and Depreciation (2008) = $625

Round your answer as a whole number and record without a dollar sign and without commas. For example, record $3,204.854 as 3205. To show a negative cash flow (i.e., a net cash outflow), place a negative sign before your answer with no space between the negative sign and the number. Thus, record negative 5,432 as -5432.

Explanation / Answer

2007 2008 Increase Decrease Net fixed assets 8,200 8,200 0 0 Land 1,000 2,000 1,000 Total Assets 15,000 16,600 1,600 2008Net cash flows from investing activities Increase in Land 1,000 increase in fixed assets 1,600 Net cash flows from Investing activities 2600 Note:- To find cash flows we must have income statement data but we using the balance sheet data so we take increase or decrease of items and assume that increase of ammount is inflow decrease is out flo

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