Solution 1:
Joyner Company | ||
Statement of Cash Flows (Partial) | ||
For year 2 | ||
Particulars | Details | Amount |
Cash Flow from Operating Activities: | ||
Net Income | $205,800.00 | |
Adjustments to reconcile net income to net cash provided by operations: | ||
Depreciation Expense ($165,000 - $131,700 + $10,900) | $44,200.00 | |
Gain on sale of equipment | -$7,000.00 | |
Increase in accounts receivables ($277,000 - $132,000) | -$145,000.00 | |
Increase in inventory ($320,000 - $273,000) | -$47,000.00 | |
Decrease in prepaid expenses ($18,000 - $9,000) | $9,000.00 | |
Increase in accounts payable ($311,000 - $260,000) | $51,000.00 | |
Decrease in accrued liabilities ($52,000 - $46,000) | -$6,000.00 | |
Increase in income tax payable ($84,800 - $81,000) | $3,800.00 | |
Net Cash provided by operating activities | $108,800.00 |
Solution 2:
Joyner Company | ||
Statement of Cash Flows | ||
For year 2 | ||
Particulars | Details | Amount |
Cash Flow from Operating Activities: | ||
Net Cash provided by operating activities | $108,800.00 | |
Cash Flow from Investing Activities: | ||
Purchase of Property, Plant and Equipment ($627,000 - $510,000 + $30,000) | -$147,000.00 | |
Loan to Hymans Company | -$46,000.00 | |
Sale of equipment | $26,100.00 | |
Net Cash used in Investing activities | -$166,900.00 | |
Cash Flow from Financing Activities: | ||
Proceed from issue of common stock ($349,000 - $273,000) | $76,000.00 | |
Dividend Paid ($98,000 + $205,800 - $270,100) | -$33,700.00 | |
Proceed from issue of bond ($207,000 - $111,000) | $96,000.00 | |
Net Cash Provided by financing activities | $138,300.00 | |
Net Increase / (Decrease) in Cash | $80,200.00 | |
Cash balance at beginning of year | $73,700.00 | |
Cash balance at end of year | $153,900.00 |
Solution 3:
Free cash flow = Operating cash flow - Capital expenditure - Dividend paid
= $108,800 - $147,000 - $33,700 = ($71,900)
Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gros margin Selling...
Joyner Company's Income statement for Year 2 follows: Sales Cast of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment $ 705,ee0 114,080 591,000 218,0e0 373,000 6,000 379,000 113,700 s 265,300 Income before taxes Income taxes Net income Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets $...
Joyner Company’s income statement for Year 2 follows: Sales $ 714,000 Cost of goods sold 84,000 Gross margin 630,000 Selling and administrative expenses 217,000 Net operating income 413,000 Nonoperating items: Gain on sale of equipment 7,000 Income before taxes 420,000 Income taxes 126,000 Net income $ 294,000 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents $ 234,000 $ 69,900 Accounts receivable 250,000 114,000 Inventory...
Joyner Company’s income statement for Year 2 follows: Sales $ 711,000 Cost of goods sold 320,000 Gross margin 391,000 Selling and administrative expenses 217,000 Net operating income 174,000 Nonoperating items: Gain on sale of equipment 7,000 Income before taxes 181,000 Income taxes 54,300 Net income $ 126,700 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash $ 54,100 $ 89,800 Accounts receivable 278,000 120,000 Inventory 320,000 272,000 Prepaid...
Joyner Company’s income statement for Year 2 follows: Sales $ 713,000 Cost of goods sold 287,000 Gross margin 426,000 Selling and administrative expenses 218,000 Net operating income 208,000 Nonoperating items: Gain on sale of equipment 5,000 Income before taxes 213,000 Income taxes 85,200 Net income $ 127,800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash $ 54,600 $ 45,900 Accounts receivable 276,000 135,000 Inventory 320,000 287,000 Prepaid...
Joyner Company's income statement for Year 2 follows: $ 705.000 374,000 331,000 216,000 115,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 9,000 124,000 49.600 $ 74.400 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ -3,000 269,000 319.000 10,500 595,500 629,000 165,500 463,500 49,000 $1,100,000 $ 69,900 120.000...
Joyner Company's income statement for Year 2 follows: $900,000 500,000 400,000 328,000 72,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 8.000 80,000 24,000 $ 56,000 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 4,000 250,000 310,000 7.000 571,009 510,000 132,000 378,000 40,000 $989,000 $ 21,000 170,000 260,000...
Joyner Company’s income statement for Year 2 follows: Sales $ 718,000 Cost of goods sold 230,000 Gross margin 488,000 Selling and administrative expenses 218,000 Net operating income 270,000 Nonoperating items: Gain on sale of equipment 7,000 Income before taxes 277,000 Income taxes 83,100 Net income $ 193,900 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents $ 123,100 $ 43,500 Accounts receivable 260,000 148,000 Inventory...
Joyner Company's income statement for Year 2 follows: $ 700,000 329,000 371,000 216,000 155,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items : Gain on sale of equipment Income before taxes Income taxes Net income 7,000 162,000 48,600 $ 113,400 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year i $ 60, 700 264,000 319,000 10,500 654,200 627,000 166,900 460,100 42,000 $1,156,300...
help Joyner Company's income statement for Year 2 follows: $ 713,000 143,000 570.000 150,400 419,600 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 8,000 427,600 171.040 $ 256,560 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 5 $ 245,660 227.000 319.000 9,000 800,660 624.000 165,500 458.500 40,000 $1.299.160 $...
Joyner Company’s income statement for Year 2 follows: Sales $ 714,000 Cost of goods sold 365,000 Gross margin 349,000 Selling and administrative expenses 217,000 Net operating income 132,000 Nonoperating items: Gain on sale of equipment 9,000 Income before taxes 141,000 Income taxes 56,400 Net income $ 84,600 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash $ 33,400 $ 81,600 Accounts receivable 262,000 110,000 Inventory 319,000 276,000 Prepaid...