Latigoe Inc. has the following financial statement for 20X8. In addition, the company paid stoc kholders dividends
Question:
Latigoe Inc. has the following financial statement for 20X8. In addition, the company paid stoc kholders dividends of $2.9 million and received $4.8 million from sale of new stock. No fixed assets were retired during the year.
Construct Latigoe’s statement of cash flow for 20X8
Transcribed Image Text:
Latigoe Inc. BALANCE SHEET For the period ended 12/31/XS (S000) ASSETS 12/31/X7 12/31/X8 Cash $3,245 7,943 12,408 $23,596 $2,647 5,614 13,653 $21,914 Accounts Receivable INCOME STATEMENT Inventory Current Assets Period ended 12/31/XS Sales $67,916 35,281 $32,635 $4,268 $18,004 S10,363 1,096 $9,267 3,707 $5,560 Fixed Assets COGS Gross Mrgn $72,166 Depreciation (51,308) Expense $20.858 EBIT Interest Gross S66,098 (47,040) $19,058 Accum. Depreciation Net TOTAL ASSETS $42.654 $42,772 EBT Тах Net Income LIABILITIES Accounts Payable S1,699 950 $2,649 $2,208 Accruals 754 $2,962 Current Liabilities Long-Term Debt Equity Total Capital $1,352 38,458 $39,810 $9,007 30,998 $40,005 TOTAL LIABILITIES AND EQUITY $42,772 $42,654
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
First summarize the changes in working capital as follows Latigoe Inc Changes in W...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Question Posted:
Students also viewed these Managerial Accounting questions
-
Details of Capital Requirements for a new plant (cost is in millions) (1) Cost of land = 10 (2) FCI 150 (90 in year one and 60 in year 2) The Plant will start operating after the end of Year 2 (3)...
-
The following financial statement note information was provided for two recent comparative years for Johnson & Johnson, one of the worlds most comprehensive health-care products companies. Patents...
-
The Dayco Manufacturing Company had the following financial statement results for last year. Net sales were $1.2 million with net income of $90,000. Total assets at year end amounted to $900,000. a....
-
You want to short a 6-month forward contract on a stock. You contacted your bank and were offered a forward price of $39.85 [Note: This forward price is available only to customers who want to take a...
-
A new incentive plan for the Talk Alot long-distance phone company varies the cost of a call according to the formula cost = a + b log t, where t represents time in minutes. When calling long...
-
Measured data for pressure versus volume during the expansion of gases within the cylinder of an internal combustion engine are given in the table below. Using data from the table complete the...
-
An example of a response from Amazon when this textbook you are reading was chosen online follows. It indicates that some people who purchased this text also tended to purchase The World Is Flat,...
-
A manufacturing company makes two products. Each product can be made on either of two machines. The time (in hours) required to make each product on each machine is listed in the file S13_33.xlsx....
-
Indicate the effect, if any, that each separate transaction has on financing cash flows. Note: Select "No Effect" if there is no effect. a. Long-term notes payable with a carrying value of $15,000...
-
The second column in Table 13.1 shows the monthly return on the British FTSE 100 index from January 2015 through July 2017. The remaining columns show returns on the stocks of two firms?Executive...
-
Raven Company is considering replacing equipment which originally cost $500,000 and which has $460,000 accumulated depreciation to date. A new machine will cost $790,000. What is the sunk cost in...
-
During October, Eastern Light Company experiences the following transactions in establishing a petty cash fund. Oct. 1 A petty cash fund is established with a check for $100 issued to the petty cash...
-
Given an average service rate of twelve customers per hour, what is the probability the business can handle all the customers when the average arrival rate is ten customers per hour? Use the Poisson...
-
Why is Marbury v. Madison such an important decision?
-
Obtain automobile industry sales and sales of major automobile manufacturers for the last five years from secondary sources.
-
How did the Bill of Rights come to be applied to the individual states?
-
Visit www.standardandpoors.com. What kind of information does it provide about organizations?
-
Would you choose to live under a brutal dictator such as Hitler, Stalin, or Saddam Hussein or suffer the chaos of a society without any kind of law?
-
What is meant by departmentalization? What are the common bases for departmentalization?
-
Consider the combustion of methanol below. If 64 grams of methanol reacts with 160 grams of oxygen, what is the CHANGE in volume at STP. 2CH3OH(g) + 3O2(g) 2CO2(g) + 4H2O(1) The volume decreases by...
-
The Java EE differs from the Java SE in that it adds libraries that provide functionality to deploy fault-tolerant, distributed, multi-tier Java software, based largely on modular components running...
-
Kelly Pitney began her consulting business, Kelly Consulting, P.C., on April 1, 2014. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated on pages...
-
Kelly Pitney began her consulting business, Kelly Consulting, P.C., on April 1, 2014. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated on pages...
-
Picasso Graphics is a graphics arts design consulting firm. Pablo Taylor, its treasurer and vice president of finance, has prepared a classified balance sheet as of July 31, 2014, the end of its...
-
Milligan's Backyard Storage Kits, a mail order company, sells a variety of backyard storage unit kits and landscaping decorations to its customers. Although the company makes a profit, David...
-
1. If you think about then Guest Services Essentials class, what do you believe to be the biggest change in your customer service practice? 2. Name and describe two customer service techniques to...
-
Packaging Waste & Recycling UK, 2013('000 tonnes) 2,260 Total Packaging Waste Total Recycled 4,000 3,868 3,459 3,000 2,339 2,000 1,639 1,029 1,000 806 714 462 436 23 0 0 Metal Glass Wood Paper...
Study smarter with the SolutionInn App