Comparative Balance Sheets Current Year Prior Year Source/Use Assets 78,000.00 6
ID: 2818905 • Letter: C
Question
Comparative Balance Sheets Current Year Prior Year Source/Use Assets 78,000.00 603,000.00 1,254,000.00 86,400.00 526,800.00 1,072,800.00 1,935,000.00 1,686,000.00 (8,400.00) Account Receivable Inventory 181,200.00 U Total Current Assets Fixed Assets 736,500.00 219,300.00 517,200.00 54,000.00 U 30,000.00 Less: Accumulated Depreciation 249,300.00 541,200.00 Net Fixed Assets TOTAL ASSETS 2,476,200.00 2,203,200.00 Liabilibities Accounts Payable Notes Payable Accruals 262,800.00 337,500.00 210,000.00 810,300.00 218,400.00 00,000.00 204,000.00 722,400.00 44,400.00 S 37,500.00 S 6,000.00 S Total Current Liabilities Long Term Debt 485,148.00 1,447218.00 1,207,548.00 636,918.00 151,770.00 S Total Liabilities Common Stock Retained Earnings 690,000.00 338,982.00 1,028,982.00 690,000.00 305,652.00 995,652.00 Total Equity TOTAL LIABILITIES AND EQUITY 2,476,200.00 2,203,200.00 Comparative Income Statements Current Year Prior Year Sales 5,782,000.005,260,255.00 4,296,000.00 964,255.00 Cost of Goods Sold 4,875,000.00 907,000.00 Gross Profit Selling, General and Admin Exp. Depreciation 645,450.00 30,000.00 231,550.00 28,350.00 325,905.00 Operating Profit (EBIT) Interest Expense 114,000.00 93,750.00 232,155.00 arnings B4 Taxes 117,550.00 47,020.00 70,530.00 92,862.00 139,293.00 Tax (@40%) NET INCOME Dividend Payment 37,200.00 Cash Flow Statement CF Operations Net Income Depreciation Expense Changes in NWC in Inventory in Accruals Net Cash Flow from Operations CF Investing Purchased Equipment Net Cash Flow from Investing CF Financing in LTD Paid CS Dividend Net Cash Flow from Financing Total Net Cash FlowExplanation / Answer
Cash Flow Statement
For the year ended ......
Particulars
$
$
I. Cash flow from Operating Activities
Net income
70,530
Add: Non-cash and non-operating expenses and losses:
Depreciation expense
30,000
Operating profit before working capital changes
214,530
Add: Increase in current liabilities
Increase in current assets
Net cash generated from Operating Activities
45,030
II. Cash flow from Investing Activities
Purchase of fixed assets
-54,000
Net cash used in Investing Activities
-54,000
III. Cash flow from Financing Activities
Issue of Debentures
151,770
Cash dividend paid
- 37,200
Interest paid
- 114,000
Net cash generated from Financing Activities
570
Net increase in Cash and Cash Equivalents(I +II +III)
- 8,400
Add: Cash and cash equivalents in the beginning of the period
86,400
Cash and cash equivalents at the end of the period
78,000
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Particulars
$
$
I. Cash flow from Operating Activities
Net income
70,530
Add: Non-cash and non-operating expenses and losses:
Depreciation expense
30,000
Interest expense 114,000Operating profit before working capital changes
214,530
Add: Increase in current liabilities
Accounts payable 44,400 Notes payable 37,500 Accruals 6,000Increase in current assets
Accounts receivable -76,200 Inventories -181,200Net cash generated from Operating Activities
45,030
II. Cash flow from Investing Activities
Purchase of fixed assets
-54,000
Net cash used in Investing Activities
-54,000
III. Cash flow from Financing Activities
Issue of Debentures
151,770
Cash dividend paid
- 37,200
Interest paid
- 114,000
Net cash generated from Financing Activities
570
Net increase in Cash and Cash Equivalents(I +II +III)
- 8,400
Add: Cash and cash equivalents in the beginning of the period
86,400
Cash and cash equivalents at the end of the period
78,000
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