Cash Flows Ritter Corporation’s accountants prepared the following financial statements for year-end 2010:
a.Explain the change in cash during 2010.
b.Determine the change in net working capital in 2010.
c.Determine the cash flow generated by the firm’s assets during 2010.
RITTER CORPORATION Income Statement 2010 | |
Revenue | $600 |
Expenses | 405 |
Depreciation | 90 |
Net income | $105 |
Dividends | $ 45 |
RITTER CORPORATION Balance Sheets December 31 | ||
| 2010 | 2009 |
Assets |
|
|
Cash | $ 50 | $ 35 |
Other current assets | 155 | 140 |
Net fixed assets | 340 | 290 |
Total assets | $ 545 | $465 |
Liabilities and Equity |
|
|
Accounts payable | $ 85 | $ 95 |
Long-term debt | 135 | 105 |
Stockholders’ equity | 325 | 265 |
Total liabilities and equity | $545 | $465 |
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