In: Finance
2017 2018
Sales $ 2,900 3,300
COGS 2,030 2,310
Interest 410 420
Dividends 56 79
Depreciation 290 330
Cash 250 150
Receivables 242 412
Current liabilities 900 1,100
Inventory 1,015 900
Long-term debt 3,200 3,100
Net fixed assets 6,000 5,700
Retained earnings 1,050 ?
Tax rate 34% 34%
Given the above information, what is the operating cash flow and retained earnings balance for 2018?
Income Statement for 2018 | |
Sales | 3,300.00 |
Less: Cost of goods sold | 2,310.00 |
Less: Depreciation | 330.00 |
Earnings before Interest & Tax (EBIT) | 660.00 |
Less: Interest Expenses | 420.00 |
Earnings before tax (EBT) | 240.00 |
Less: Tax at 34% [$240 x 34%] | 81.60 |
Net Income | 158.40 |
Operating Cash Flow | |
Earnings before Interest & Tax (EBIT) | 660.00 |
Add: Depreciation Expenses | 330.00 |
Less: Taxes | 81.60 |
Operating Cash Flow | 908.40 |
Retained earnings balance for 2018 | |
Retained earnings balance at the beginning | 1,050.00 |
Add: Net Income for the Year | 158.40 |
Less: Dividends paid | 79.00 |
Retained earnings balance for 2018 | 1,129.40 |