Using the income statements and changes in balance sheet accounts provided for Firms A and B, you will need to provide the following information:
(c) Summary analysis of the statements of cash flows for Firms A and B (see Exhibit 4.6 on page 181 of your textbook):
1. Total inflows for Firm A
2. Total outflows for Firm A
3. Total inflows for Firm B
4. Total outflows for Firm B
Income statement for year ended December 31,2015 |
Firm A |
Firm B |
Sales |
1,000,000 |
1,000,000 |
Cost of good Sold |
700,000 |
700,000 |
Gross Profit |
300,000 |
300,000 |
Other Expenses |
||
Selling and Administrative |
120,000 |
115,000 |
Depreciation |
10,000 |
30,000 |
Interest Expense |
20,000 |
5,000 |
Earnings before taxes |
150,000 |
150,000 |
Income tax expense |
75,000 |
75,000 |
Net Income |
75,000 |
75,000 |
Changes in balance Sheet |
Firm A |
Firm B |
Cash and Cash equivalents |
0 |
+10000 |
Accounts Receivable |
+40000 |
+5000 |
Inventory |
+40000 |
-10000 |
PPE |
+20000 |
+70000 |
Less Accumulated Depreciation |
(+10000) |
(+30000) |
Total Assets |
+90000 |
+45000 |
Accounts Payable |
-20000 |
-5000 |
Notes Payable (current) |
+17000 |
+2000 |
Long-term debt |
+20000 |
-10000 |
Deferred Taxes (noncurrent) |
+3000 |
+18000 |
Capital, stock |
- |
- |
Retained earnings |
+70000 |
+40000 |
Total Liabilities and Equity |
+90000 |
+45000 |
Using the income statements and changes in balance sheet accounts provided for Firms A and B,...
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