Question

In: Accounting

Item Prior year Current year Accounts payable 8,183.00 7,998.00 Accounts receivable 6,047.00 6,558.00 Accruals 967.00 1,357.00...

Item Prior year Current year
Accounts payable 8,183.00 7,998.00
Accounts receivable 6,047.00 6,558.00
Accruals 967.00 1,357.00
Cash ??? ???
Common Stock 10,760.00 11,094.00
COGS 12,629.00 18,144.00
Current portion long-term debt 5,006.00 4,946.00
Depreciation expense 2,500 2,811.00
Interest expense 733 417
Inventories 4,197.00 4,813.00
Long-term debt 13,675.00 13,302.00
Net fixed assets 51,628.00 54,611.00
Notes payable 4,366.00 9,933.00
Operating expenses (excl. depr.) 13,977 18,172
Retained earnings 28,546.00 29,809.00
Sales 35,119 45,546.00
Taxes 2,084 2,775

What is the firm's cash flow from operations?

Solutions

Expert Solution

SOLUTION:

Prior year Current year
Cash 12827 15684
Prior year Current year
Account Names Debit Credit Debit Credit
Accounts Receivable 6047 6558
Inventories 4197 4813
Net fixed assets 51628 54611
Accounts Payable 8183 7998
Accruals 967 1357
Current portion long-term debt 5006 4946
Long-term debt 13675 13302
Notes Payable 4366 9933
Common Stock 10760 11094
Retained Earnings 28546 29809
Sales 35119 45546
Cost of goods sold 12629 18144
Operating expense (excl. depr.) 13977 18172
Depreciation expense 2500 2811
Interest expense 733 417
Taxes 2084 2775
Totals 93795 106622 108301 123985
Cash 12827 15684
Calculation - Cash =106622-12827 =123985-108301

Cash flow from operations $ 5,116

Cash flows from Operating Activities
Net income 3227 Workings below
Adjustments to reconcile net income to net cash from operating activities
Depreciation expense           2811
Changes in Working Capital
Increase in Accounts Receivable            (511) = 6047-6558
Increase in Inventories            (616) =4197-4813
Decrease in Accounts Payable (185) =7998-8183
Increase in Accruals 390 =1357-967
Net Cash Provided/(Used) by Operating Activities 5116
Workings
Income Statement Prior year Current year
Sales 35119 45546
Expenses
Cost of goods sold 12629 18144
Operating expense (excl. depr.) 13977 18172
Depreciation expense 2500 2811
Interest expense 733 417
Taxes 2084 2775
Total Expenses 31923 42319
Net Income 3196 3227


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ekkarill92 answered 2 years ago
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