Complete the Cash Flow Statement for the company, CM Inc, using the information presented below. CM...

Complete the Cash Flow Statement for the company, CM Inc, using the information presented below.

CM Inc. is a wholesale manufacturer of nut butters including: peanut, almond, and cashew. They also purchase sesame seeds to turn into the world's finest tahini. CM has engaged you to prepare a Statement of Cash Flows for their next quarterly meeting. CM's accounting department prepared the Income Statement and the Balance Sheet included in the table below. They were unable to provide you with completed financial statements, however, they have forwarded you the following account balances and relevant facts as of FYE 12/31/2019.

Cash	$1,745,250
Beginning Accounts Receivable (A/R)	978,857
Ending A/R	1,001,456
Beginning Accounts Payable (A/P)	650,100
Ending A/P	724,100
Beginning Inventory	975,025
Ending Inventory	1,015,000
Investment in Sesame Seed Farm	2,750,000
Charitable Donation to Rutgers	500,000
Purchase of new grinding wheels for factory floor	45,000
Net Income for Period Ending 12/31/2019	2,000,000
Dividends paid to equity holders	175,000
Proceeds for Sale of short term investments	75,575
Repayment of Letter of Credit (LOC)	45,000
Depreciation Expense for period ending 12/31/2019	27,540
Proceeds from Secondary Issue of Common Stock	5,000,000
Repayment of Bonds Outstanding	6,250,000

Other Information:

Income Statement is for period ending 12/31/2019

Balance Sheets ARE NOT FOR PERIODS OF TIME, it is a cumulative tally “as of” a distinct POINT IN TIME!!!

Ending cash balance on the Cash Flow Statement HAS TO EQUAL cash amount on the Balance Sheet.

Expert Solution

ekkarill92 answered 2 years ago

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