Question

Following are the most recent balance sheets for King Fisher Aviation.

Excluding accumulated depreciation, determine whether each item is a use of cash, and the amount:

Assets	2015	2016
Cash	49,280	44,816
Accounts Receivable	98,155	101,412
Inventories	82,400	87,715
Property, Plant, and Equipment	223,994	242,085
Less: Accumulated depreciation	76,174	85,688
Total Assets	377,655	390,340

Liabilities and Equity	2015	2016
Accounts Payable	74,511	49,496
Accrued Expenses	10,790	7,740
Long-term debt	48,000	44,000
Common stock	25,000	30,000
Accumulated Retained Earnings	219,354	259,104
Total Liabilities and Equity.	377,655	390,340

Fill in the values in the spreadsheet.

Answer 1

King Fisher Aviation.
	2015	2016	Use of cash / Source of cash	Amount
Assets
Cash	49,280	44,816	Use of cash	(4,464)
Accounts Receivable	98,155	101,412	Use of cash	(3,257)
Inventories	82,400	87,715	Use of cash	(5,315)
Property, Plant, and Equipment	223,994	242,085	Use of cash	(18,091)
Less: Accumulated depreciation	76,174	85,688
Total Assets	377,655	390,340
Liabilities and Equity
Accounts Payable	74,511	49,496	Use of cash	(25,015)
Accrued Expenses	10,790	7,740	Use of cash	(3,050)
Long-term debt	48,000	44,000	Use of cash	(4,000)
Common stock	25,000	30,000	Source of cash	5,000
Accumulated Retained Earnings	219,354	259,104	Source of cash	39,750
Total Liabilities and Equity.	377,655	390,340