Question

Please use Excel for the answers!!!!!

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

Cash flow by Indirect method

Statement of Cash Flows
	2014
Cash flows from operating activities
Profit before taxation	110,100.00
Adjustments for:
Depreciation	1,400.00
Investment income	-
Interest expense	2,000.00
Profit / (Loss) on the sale of property, plant & equipment	-
Working capital changes:
(Increase) / Decrease in trade and other receivables	(43,100.00)
(Increase) / (Decrease) in inventories	12,500.00
Increase / (Decrease) in trade payables	(22,100.00)
Cash generated from operations	60,800.00
Interest paid	(2,000.00)
Income taxes paid	(40,900.00)
Dividends paid	(22,000.00)
Net cash from operating activities	1,190.00
Cash flows from investing activities
Business acquisitions, net of cash acquired	-
Purchase of property, plant and equipment	(63,300.00)
Proceeds from sale of equipment	-
Acquisition of portfolio investments	-
Investment income	-
Net cash used in investing activities	(63,300.00)
Cash flows from financing activities
Proceeds from issue of share capital	98,800.00
Proceeds from long-term borrowings	33,900.00
Payment of long-term borrowings	-
Net cash used in financing activities	132,700.00
Net increase in cash and cash equivalents	70,590.00