ompany paid stock Latigoe Inc. has the following financial statements for 20X ho
ID: 2764477 • Letter: O
Question
ompany paid stock Latigoe Inc. has the following financial statements for 20X holders dividends of $2.9 million and received $4.8 million from the sale of new stock.No fi assets were retired during the year. (Hint: That implies that fixed asset purchases and depreci are equal to the changes in the gross fixed asset and accumulated depreciation accounts.) 8. In addition, the company 3. reciation Latigoe Inc. Balance Sheet For the period ended 12/31/x8 ($000) ASSETS Cash Accounts receivable Inventory CURRENT ASSETS Fixed assets 12/31/X7 3,245 7,943 12,408 $23,596 12/31/X8 $ 2,647 5,614 13,653 21,914 Gross Accumulated depreciation Net $66,098 (47,040) $ 72,166 (51,308) $20,858 $ 42,772 TOTAL ASSETS $42,654Explanation / Answer
Latigoe Inc Cash flow Statement for the period 20X8 Indirect Method Details Amt $ Cash Flow From Operating Activities Net Income 5,560 Add Depreciation 4,268 Decreased Accounts Receivable 2,329 Increased Inventory (1,245) Increased Accounts Payable 509 Decreased Accrued Expenses (196) Income Tax Payable Total Cash Flow From Operating Activities 11,225 Cash Flow From Investing Activities Cash Inflow from sales of assets - Cash outflow from purchase of assets (6,068) Total Cash Flow From Investing Activities (6,068) Cash Flow From Financing Activities Cash received from issue of Common stock 4,800 Cash Paid for Dividend Payment (2,900) Cash paid for stock repurchase (7,655) TotalCash Flow From Financing Activities (5,755) Total Cash Flow from Operating. Investing and Financing Activities (598) Intial Cash Balance 3,245 Net Effect of Cash Flow during the period (598) Closing Cash Balance 2,647
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