The Floor Store had interest expense of $38,400, depreciation of $28,100, and taxes of $19,600 for...
The Floor Store had interest expense of $38,400, depreciation of $28,100, and taxes of $19,600 for the year. At the start of the year, the firm had total assets of $879,400 and current assets of $289,600. By year's end total assets had increased to $911,900 while current assets decreased to $279,300. What is the amount of the cash flow from investment activity for the year?
Homework Answers
Solution:
Fixed assets Beginning = Total assets - Current assets = $879,400 - $289,600 = $589,800
Fixed assets Ending = $911,900 - $279,300 = $632,600
Increase in Fixed assets = $632,600 - $589,800 = $42,800
cash flow from investment activity for the year = $42,800 + Depreciation = $42,800 + $28100 = $70,900
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