Question

This is the third time I'm posting this problem, I had two different responses and I am just confused now, please use EXCEL!!!! Thank you!

1 Chapter 1 Problem 14 2 a. Prepare a sources and uses statement for Whistler Corp. for fiscal year 2014 3 b. Prepare a cash flow statement for Whistler Corp. for fiscal year 2014 4 2013 2014 Balance Sheet: Current Assets Cash Accounts Receivable Inventories Total current assets Noncurrent Assets Land Buildings Equipment Patent Accumulated depreciation Total noncurrent assets Total Assets $47,500 $76,700 SO $43,100 $49,000 $36,500 6,500 $156,300 10 12 13 14 15 16 17 18 19 20 S15,800S15,800 S103,600S164,600 S63,200 S65,500 S5,200 S10,800 S12200 238,900 $273,500 S395,200 S5,200 177,000

Answer 1

a)	SOURCES AND USES OF FUNDS
	SOURCES:
	Funds from operations (see statement below)	111500
	Long term debt (134000-100100)	33900
	Common stock issued (177400-125400)	52000
	Total sources	197400
	USES:
	Dividends	22000
	Equipment purchased (65500-63200)	2300
	Buildings (164600-103600)	61000
	Payment of taxes (40900-10700)	30200
	Increase in NWC	81900
	Total uses	197400
	STATEMENT OF CHANGES IN WORKING CAPITAL
	Current Assets:	2013	2014	Increase in NWC	Decrease in NWC
	Cash	47500	76700	29200
	Accounts receivable	0	43100	43100
	Inventories	49000	36500		12500
	Total current assets	96500	156300
	Current liabilities:
	Accounts payable to supplliers	48000	25900	22100
	Total current liabilities	48000	25900
	Net Working Capital	48500	130400
	Net increase in working capital	81900			81900
	Total	130400	130400	94400	94400
	STATEMENT SHOWING FUNDS FROM OPERATIONS
	Net income		69200
	Add:
	Depreciation	1400
	Provision for income taxes	40900	42300
	Funds from operations		111500
b)	Cash flows from operating activities:
	Net income		69200
	Adjustments to reconcile net income to net cash profived by operations:
	Depreciation expense	1400
	Increase in accounts receivable = 43100-0 =	-43100
	Decrease in inventory = 49000-36500 =	12500
	Increase in income taxes payable = 10700-0 =	10700
	Decrease in accounts payable = 48000-25900 =	-22100	-40600
	Net cash provided by operating activities		28600
	Cash flows from investing activities:
	Buildings	-61000
	Purchase of equipment	-2300
	Net cash used in investing activities		-63300
	Cash flows from financing activities:
	Issue of common stock	52000
	Cash from long term debt	33900
	Dividend	-22000
	Net cash used in financing activities		63900
	Net increase (decrease) in cash		29200
	Cash balance at beginning of year		47500
	Cash balance at end of year		76700