Question

a. Prepare a sources and uses statement for Whistler Corp. for fiscal year 2017. b. Prepare a cash flow statement for Whistler Corp. for fiscal year 2017 WHISTLER CORP. BALANCE SHEET Cash Accounts receivable Inventories Total current assets Land Buildings Equipment Patents Less: Accumulated depreciation Total assets 2016 $47,500 0 49,000 96,500 15,800 103,600 63,200 5,200 10,800 273,500 2017 $76,700 43,100 36,500 156,300 15,800 164,600 65,500 5,200 12.200 395,200 48,000 0 48.000 100,100 148,100 25,900 10,700 36,600 134,000 170,600 Accounts payable to suppliers Income taxes payable Total current liabilities Long term debt Total liabilities Shareholders' equity Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 125,400 0 125,400 273,500 177,400 47,200 224,600 395,200 INCOME STATEMENT Sales Cost of goods sold Depreciation expense Net interest expense Other expense Income before taxes Provision for income taxes Net income 2017 165,300 46,200 1,400 2.000 5,600 110,100 40.900 69,200 Dividends paid Addition to retained earnings 22.000 47,200

Answer 1

ANSWER

a)	Sources and Uses Statement:
	Sources of cash
	Reduction in inventories	$      12,500
	Increase in accumulated depreciation	1,400
	Increase in taxes payable	10,700
	Increase in long-term debt	33,900
	Increase in common stock	52,000
	Increase in retained earnings	47,200
	Total sources of cash	$   157,700
	Uses of cash
	Increase in cash	$      29,200
	Increase in accounts receivable	43,100
	Increase in buildings	61,000
	Increase in equipment	2,300
	Reduction in accounts payable	22,100
	Total uses of cash	$   157,700

Cash Flow Statement:

Cash flow statement:
Operating activities	2017
Net income	$      69,200
Add back depreciation	1,400
(Increase) decrease in Receivables	(43,100)
(Increase) decrease in inventories	12,500
(Increase) decrease other current assets
Increase (decrease) in accounts payable	(22,100)
Increase (decrease) in income taxes	10,700
Cash flow from operations	$      28,600
Investing activities
(Increase) decrease in building	(61,000)
(Increase) decrease in equipment	(2,300)
Cash flow from investing	$     (63,300)
Financing activities
Increase (decrease) in long-term debt	33,900
Increase (decrease) in common stock	52,000
Dividends paid	(22,000)
Cash flow from financing	$      63,900
Net change in cash	29,200
Beginning cash balance 2016	47,500
Ending cash balance 2017	$76,700

__________________________________

If you have any query or any Explanation please ask me in the comment box, i am here to helps you.please give me positive rating.

*****************THANK YOU*************