1 answer

Net income Depreciation Expense Change in Accounts Receivable Change in Inventory Change in Accounts Payable OPERATING...

Question:

Net income
Depreciation Expense
Change in Accounts Receivable
Change in Inventory
Change in Accounts Payable
OPERATING CASH FLOWS
Acquisitions of fixed assets
INVESTING CASH FLOWS
Change in Notes Payable
Change in Long-term debt
Change in Common stock
FINANCING CASH FLOWS
NET CHANGE IN CASH
CASH AT BEGINNING OF YEAR
CASH AT END OF YEAR
2019 2018 change
Cash       200,000       170,000          30,000
Accounts Receivable       864,000       700,000        164,000
Inventory    2,000,000    1,400,000        600,000
                -  
Net Fixed assets    6,000,000    5,600,000        400,000
                -  
Accounts Payable    1,400,000    1,090,000        310,000
Notes Payable    1,600,000    1,800,000      (200,000)
                -  
Long term debt    2,400,000    2,400,000                 -  
Common Stock    3,000,000    2,000,000     1,000,000
Retained Earnings       664,000       580,000          84,000
Assume the following additional information:
1. net income after taxes for the year 2019 was $84,000; EBIT was $106,329.
2. Depreciation expense for 2019 was $300,000
3. Acquisitions of fixed assets were $700,000 in 2019
4. No dividends were paid during 2019
5. The firm's tax rate is 21%

Answers

$ $ 84,000 300,000 -164,000 -600,000 310,000 -70,000 Statement of Cash Flows Cash flows from operating activities: Net income

.

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