1) | The first step is to complete the balance sheets of the two years by | |||
finding out the missing figures. | ||||
2016 | 2017 | |||
Cash | 16100 | 25800 | ||
Accounts receivable | 27800 | 18900 | ||
Inventories | 48200 | 53200 | ||
Total current assets | 92100 | 97900 | ||
Fixed assets | 367800 | 448100 | ||
Accumulated depreciation | -142200 | -188300 | ||
Net Fixed Assets | 225600 | 259800 | ||
Intangible assets | 81800 | 81800 | ||
Total assets | 399500 | 439500 | ||
Notes payable | 13900 | 11800 | ||
Accounts payable | 19100 | 24200 | ||
Current liabilities | 33000 | 36000 | ||
Long term debt | 189900 | 162100 | ||
Retained earnings (plug in figure) | 44800 | 59400 | ||
Common stock | 131800 | 182000 | ||
Total liabilities and equity | 399500 | 439500 | ||
OTHER WORK SHEETS AND CALCULATIONS: | ||||
INCOME STATEMENT FOR 2017 | ||||
Sales revenue | 350000 | |||
COGS | 142000 | |||
Fixed costs | 43200 | |||
Selling, general and administrative expenses | 28000 | |||
Depreciation | 46100 | |||
EBIT | 90700 | |||
Interest | 17400 | |||
EBT | 73300 | |||
Tax at 40% | 29320 | |||
NI | 43980 | |||
Dividend paid during 2017 = Beginning retained earnings+Net income-Ending retained earnings = 44800+43980-59400 = | 29380 | |||
CASH FLOWS: | ||||
Cash flows from assets = Cash flow to creditors+Cash flow stock holders. | ||||
1) | Cash flow from assets: | |||
Cash flow from assets = Operating cash flow-Net capital spending-Change in NWC | ||||
Operating cash flow = NI+Depreciation+Interest expense = 43980+46100+17400 = | 107480 | |||
Net capital spending = Ending net fixed assets-Beginning net fixed assets+Depreciation expense = 259800-225600+46100 = | 80300 | |||
Change in NWC = Ending NWC-Beginning NWC = (97900-36000)-(92100-33000)= | 2800 | |||
Cash flow from assets = 107480-80300-2800 = | 24380 | |||
2) | Cash flow to creditors = Interest expense-(Ending LT loan balance-Beginning LT loan balance) = 17400-(162100-189900)= | 45200 | ||
3) | Cash flow to owners = Dividends paid-(Ending common stock-Beginning common stock) = 29380-(182000-131800) = | -20820 | ||
4) | Cash flow to creditors+Cash flow to owners = 45200-20820 = | 24380 | ||
5) | CASH FLOW FROM ASSETS = CASH FLOW TO CREDITORS+CASH FLOW TO OWNERS |
Cash flo v to o s. Use tho dena f the fo ng finere al staterments...