Table 3.1 in Chapter 3 presents financial statements over the period 2014–2017 for R&E Supplies, Inc.
**ALL WORK MUST BE SHOWN**
Construct a sources and uses statement for the company over this period (one statement for all three years).
What insights, if any, does the sources and uses statement give you about the financial position of R&E Supplies?
Construct a sources and uses statement for the company over this period (one statement for all three years)
Sources of cash | |
Decrease in cash and securities | $259 |
Increase in accrued wages | $13 |
Increase in current portion long term debt | $40 |
Increase in Accounts Payable | $2,205 |
Increase in retained earning | $537 |
Total | $3,054 |
Uses of cash |
|
Increase in accounts receivable | $1,543 |
Increase In inventory | $1,148 |
Increase in net fixed assets | $159 |
Decrease in long term debt | $200 |
Increase in prepaid expenses | $4 |
Total | $3,054 |
What insights, if any, does the sources and uses statement give you about the financial position of R&E Supplies?
Increase in inventory and increase in accounts receivable is nearly 90% of uses of cash and increase in accounts payable is nearly 70% of the sources of cash.
Table 3.1 in Chapter 3 presents financial statements over the period 2014–2017 for R&E Supplies, Inc....
6. Table 3.1 in Chapter 3 presents financial statements over the period 2014–2017 for R&E Supplies, Inc. a. Construct a sources and uses statement for the company over this period (one statement for all three years). b. What insights, if any, does the sources and uses statement give you about the financial position of R&E Supplies? Income Statements 2014 $11,190 9,400 1,790 2015 $13,764 11,699 2,065 2016 $16,104 13,688 2,416 2017* $20,613 17,727 2,886 Net sales Cost of goods sold...
TABLE 3.3 Pro Forma Financial Statements for R&E Supplies, Inc., December 31, 2018 ($ thousands) Income Statement 2018 Comments Net sales $25,766 25% increase Cost of goods sold 22,159 86% of sales Gross profit 3,607 Expenses: General, selling, and administrative expenses 3,092 12% of sales Net interest expense 90 Initially constant Earnings before tax 425 Tax 191 45% tax rate Earnings after tax $ 234 Balance Sheet Assets Current assets: Cash and securities $ 1,271 18 days sales Accounts receivable 3,600 51-day...
Chapter 3 Problem 15 a Below are the 2017 financial statements for Aquatic Supplies Co. Also appearing are management's forecasts for how individual financial statement items will vary in the future. The company expects sales to grow 12% next year. Aquatic Supplies finances all of its needs with 10-year long-term debt at 10% interest. Forecast the financial statements for 2018 assuming that long-term debt is the plug figure. (Be sure to enable interative calculation in Excel.) How much additional long-term...
can you answer part (a)? Only 1- Average collection period. 2- Total assest turnover. 3- Total Debt Ratio. CHAPTER 3: WORKING WITH FINANCIAL STATEMENTS Assignment 1: 1. Michigan Corp. has prepared the following financial statements: Michigan Corp. Balance Sheet Michigan Corp. lacome Statement Year Endrd Dec. 31 2017 ,074,000 2,557,000 Cash 2088.000 1.711000 Ascounts Receivable Sales Cost of Goods Seld 03,000 365,000 289.000 300,000 223,000 1.004,000 4,669,000 4,322000 986,000 856,000Invenories Gress Prefit Selling and G&A Expenses 294,000 Fixed Expenses Depreciation...
LEON INC., PART II presented in Chapter 3, discussed the situation of r. D'Leon had increased plant capacity up 26 FINANCIAL STATEMENTS AND TAXES Part I of this case, presen D'Leon Inc., a regional snack foods producer, after an expansion program undertaken a major marketing campaign in an attempt to "go national." Thus far, sales have not been to the forecasted le the forecasted level,costs have been higher than were projected, and a large loss occurred in 2018 rather the...