Solution 1:
Joyner Company | ||
Statement of Cash Flows (Partial) | ||
For year 2 | ||
Particulars | Details | Amount |
Cash Flow from Operating Activities: | ||
Net Income | $166,800.00 | |
Adjustments to reconcile net income to net cash provided by operations: | ||
Depreciation Expense ($165,300 - $130,500 + $10,000) | $44,800.00 | |
Gain on sale of equipment | -$10,000.00 | |
Increase in accounts receivables ($262,000 - $115,000) | -$147,000.00 | |
Increase in inventory ($320,000 - $270,000) | -$50,000.00 | |
Decrease in prepaid expenses ($21,000 - $10,500) | $10,500.00 | |
Increase in accounts payable ($318,000 - $253,000) | $65,000.00 | |
Decrease in accrued liabilities ($55,000 - $47,000) | -$8,000.00 | |
Increase in income tax payable ($85,800 - $81,100) | $4,700.00 | |
Net Cash provided by operating activities | $76,800.00 |
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 | $76,800.00 | |
Cash Flow from Investing Activities: | ||
Purchase of Property, Plant and Equipment ($633,000 - $510,000 + $31,400) | -$154,400.00 | |
Loan to Hymans Company | -$46,000.00 | |
Sale of equipment | $31,400.00 | |
Net Cash used in Investing activities | -$169,000.00 | |
Cash Flow from Financing Activities: | ||
Proceed from issue of common stock ($348,000 - $274,000) | $74,000.00 | |
Dividend Paid ($90,000 + $166,800 - $223,600) | -$33,200.00 | |
Proceed from issue of bond ($205,000 - $118,000) | $87,000.00 | |
Net Cash Provided by financing activities | $127,800.00 | |
Net Increase / (Decrease) in Cash | $35,600.00 | |
Cash balance at beginning of year | $85,600.00 | |
Cash balance at end of year | $121,200.00 |
solution 3:
Free cash flow for year 2 = Cash from operating activities - Capital expenditure - Dividend paid
= $76,800 - $154,400 - $33200 = ($110,800)
ts balance sheet amounts at the end of Years 1 and 2 are as follows: Joyner...
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...
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 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 $ 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: Sales $ 718,000 Cost of goods sold 43,000 Gross margin 675,000 Selling and administrative expenses 218,000 Net operating income 457,000 Nonoperating items: Gain on sale of equipment 8,000 Income before taxes 465,000 Income taxes 139,500 Net income $ 325,500 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents $ 285,100 $ 78,400 Accounts receivable 255,000 124,000 Inventory...
Joyner Company’s income statement for Year 2 follows: Sales $ 715,000 Cost of goods sold 182,000 Gross margin 533,000 Selling and administrative expenses 218,000 Net operating income 315,000 Nonoperating items: Gain on sale of equipment 8,000 Income before taxes 323,000 Income taxes 129,200 Net income $ 193,800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents $ 143,500 $ 91,000 Accounts receivable 274,000 123,000 Inventory...
Joyner Company’s income statement for Year 2 follows: Sales $ 708,000 Cost of goods sold 399,000 Gross margin 309,000 Selling and administrative expenses 216,000 Net operating income 93,000 Nonoperating items: Gain on sale of equipment 8,000 Income before taxes 101,000 Income taxes 40,400 Net income $ 60,600 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents $ 14,900 $ 60,100 Accounts receivable 269,000 147,000 Inventory...
Joyner Company’s income statement for Year 2 follows: Sales $ 701,000 Cost of goods sold 322,000 Gross margin 379,000 Selling and administrative expenses 216,000 Net operating income 163,000 Nonoperating items: Gain on sale of equipment 10,000 Income before taxes 173,000 Income taxes 69,200 Net income $ 103,800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents $ 35,000 $ 85,200 Accounts receivable 263,000 127,000 Inventory...
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 $ 702,000 Cost of goods sold 219,000 Gross margin 483,000 Selling and administrative expenses 218,000 Net operating income 265,000 Nonoperating items: Gain on sale of equipment 6,000 Income before taxes 271,000 Income taxes 81,300 Net income $ 189,700 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash $ 139,800 $ 69,200 Accounts receivable 263,000 114,000 Inventory 320,000 283,000 Prepaid...