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In: Accounting

Category Prior Year Current Year Accounts payable 3,148.00 5,978.00 Accounts receivable 6,987.00 9,075.00 Accruals 5,679.00 6,062.00...

Category Prior Year Current Year
Accounts payable 3,148.00 5,978.00
Accounts receivable 6,987.00 9,075.00
Accruals 5,679.00 6,062.00
Additional paid in capital 19,911.00 13,723.00
Cash ??? ???
Common Stock 2,850 2,850
COGS 22,424.00 18,276.00
Current portion long-term debt 500 500
Depreciation expense 983.00 959.00
Interest expense 1,262.00 1,152.00
Inventories 3,018.00 6,677.00
Long-term debt 17,000.00 22,791.00
Net fixed assets 75,310.00 74,221.00
Notes payable 4,066.00 6,554.00
Operating expenses (excl. depr.) 19,950 20,000
Retained earnings 35,527.00 34,370.00
Sales 46,360 45,467.00
Taxes 350 920

What is the firm's cash flow from financing?

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Answer format: Number: Round to: 0 decimal places.

Category Prior Year Current Year
Accounts payable 3,148.00 5,978.00
Accounts receivable 6,987.00 9,075.00
Accruals 5,679.00 6,062.00
Additional paid in capital 19,911.00 13,723.00
Cash ??? ???
Common Stock 2,850 2,850
COGS 22,424.00 18,276.00
Current portion long-term debt 500 500
Depreciation expense 983.00 959.00
Interest expense 1,262.00 1,152.00
Inventories 3,018.00 6,677.00
Long-term debt 17,000.00 22,791.00
Net fixed assets 75,310.00 74,221.00
Notes payable 4,066.00 6,554.00
Operating expenses (excl. depr.) 19,950 20,000
Retained earnings 35,527.00 34,370.00
Sales 46,360 45,467.00
Taxes 350 920

What is the firm's total change in cash from the prior year to the current year?

Solutions

Expert Solution

1.

Cash Flow from Financing Amount
Increase in Long-term Debt $    5,791
Increase in Notes Payable $    2,488
Less: Dividend Paid (4160+1157) $ -5,317
Less: Decrease in Additional paid in capital $ -6,188
Cash Flow from Financing $ -3,226
Note: Dividend Paid = Net Income + Decrease in Retained Earnings
Sales $        45,467
COGS $        18,276
Gross Profit $        27,191
Operating Expenses:
Depreciation expense $             959
Interest expense $          1,152
Operating expenses (excl. depr.) $        20,000
Total Expenses $        22,111
Earning Before Taxes $          5,080
Taxes $             920
Net Income $          4,160

2.

Prior year Current year
Accounts payables $    3,148 $          5,978
Accruals $    5,679 $          6,062
Current portion of long-term debt $       500 $             500
Notes payables $    4,066 $          6,554
Current liabilities $ 13,393 $        19,094
Long term debt $ 17,000 $        22,791
Total liabilities $ 30,393 $        41,885
Common stock $    2,850 $          2,850
Additional paid in capital 19,911.00 13,723.00
Retained earnings $ 35,527 $        34,370
Stockholders' equity $ 58,288 $        50,943
Total liabilities and stockholders' equity $ 88,681 $        92,828
Prior year This year
Total assets $ 88,681 $ 92,828
Less: Net Fixed Assets $ 75,310 $ 74,221
Current assets $ 13,371 $ 18,607
Prior year This year
Current assets $ 13,371 $ 18,607
(-) Accounts receivables $    6,987 $    9,075
(-) Inventories $    3,018 $    6,677
Cash $    3,366 $    2,855
Total change in cash (2855-3366) $                -511

ekkarill92 answered 1 year ago
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