Question

Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory Total $ 24,046 12,448 25,392 $ 61,886 $ 24, 255 15,235 27,155 $ 66,645 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 23, 184 Notes payable 12,000 Other 11,571 藍译此页 Total $ 46,755 Long-term debt $ 80,000 Owners' equity Common stock and paid-in surplus $ 40,000 Retained earnings 219,826 Total $ 259,826 Total liabilities and owners' equity $386,581 $ 27,420 10,800 15,553 $ 53, 773 $ 95,000 Fixed assets Net plant and equipment $324,695 $365, 734 $ 40,000 243, 606 $ 283, 606 $432, 379 Total assets $386,581 $ 432,379 EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales $366,996 Cost of goods sold 253,122 Depreciation 32,220 Earnings before interest and taxes $ 81,654 Interest paid 14,300 Taxable income $ 67,354 Taxes (358) 23,574 Net income $ 43,780 Dividends $ 20,000 Additions to retained earnings 23,780

Answer 1

Answer:

CASH FLOW STATEMENT:

	A	B	C	D
1		Particulars		Amount ($)	Amount ($)
2		Cash Beginning of the Year		24,046
3		Operating Activities:
4		Net Income		43,780
5	ADD	Depreciation		32,220
6	ADD	Increase in Accounts Payable		4,236	[=27,300-23,384]
7	ADD	Increase in other Liabilities		3,982	[=16,700-11,771]
8	LESS	Increase in Accounts Receivable		2,787	[=12,448-15,235]
9	LESS	Increase in Inventory		1,763	[=25,392-27,155]
10
11		Net Cash From Operating Activities		79,668	[=SUM(D2:D10)]
12		Investing Activities:
13	LESS	Fixed Assets Acquisition		73,259	[=-365,734+324,695-32,220]
14
15		Nat Cash From Investing Activities		-73,259	[=D13]
16		Financing Activities:
17		Decrease in Notes Payable		-1,200	[=10,800-12,000]
18		Dividend Paid		-20,000
19		Increase in long term debt		15,000	[95,000-80,000]
20
21		Net Cash From Financing Activities		-6,200	[=SUM(D17:D19)]
22
23		Net Increase in Cash		209	[=D11+D15+D21]
24		Cash,End of the Year		24,255	[=D2+D23]