Homework Answers
Missing information is as calculated below:
1. Account Receivable: Change in account receivable is -4,900 and opening account receivable is 32,900.
So closing account receivable will be $37,800
2. Inventory:
Change in inventory is -24,500 and opening inventory is 70,900.
So closing inventory will be $95,400
3. Depreciation expense is $15,900 as shown in the cash flow statement.
4. Income taxes is (441,200-15,900-9,900-98,500-299,000) = 17,900
5. Prepaid Rent is (2,900-3,490 ) = 590
6. Accrued liabilities is 10,000-12,900 = -2,900
7. Net cash provided by operating activities is total of 72,300+15,900-4,900-24,500+590-2,900+4,900 = 61,390
8. Additional capital contributed is $29,500
9. Net cash provided by financing activities is 25,810-61,390+28,500 = -7,080
10. Payment of cash dividend is -7,080 = 29,500-24,500- Cash dividend
Cash dividend = 29,500-24,500+7,080
= 12,080
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