acc 302 statement of cash flows project

Project Description:

use the comparative balance sheet and the comparative income statement on the following page to complete this
task.
prepare the following documents:
o schedules showing the amount and percentage change from 2008 to 2009 for the comparative income
statements and the balance sheets
o common-size income statements and balance sheets for 2008 and 2009
o a 2009 statement of cash flows using the indirect method (financials needed are the comparative balance
sheet and the comparative income statement on page two of this document. no additional information is needed.)
write a 200–300 word memo that presents your analysis of the documents prepared. your analysis should include:
o the favorable and unfavorable changes in the components and composition of the statements prepared
o the significant changes from operating activities, investing activities, and financing activities

(comparative balance sheet)
cash $ 4 0,000 $ 2 4,000
accounts receivable (net) 4 8,000 4 1,500
inventory 4 3,000 3 4,500
prepaid expenses 1 9,000 1 5,000
total current assets $ 1 50,000 $ 1 15,000
plant and equipment $ 6 7,000 $ 6 1,000
less accumulated depreciation ( 41,000) ( 23,000)
plant and equipment (net) $ 2 6,000 $ 3 8,000
long-term investments 9 0,000 8 9,000
total assets $ 2 66,000 $ 2 42,000
accounts payable $ 1 3,000 $ 1 1,000
accrued liabilities 5 5,000 7 1,000
total current liabilities $ 6 8,000 $ 8 2,000
long-term debt 2 5,000 8 ,000
deferred taxes 4 ,000 3 ,500
total liabilities $ 9 7,000 $ 9 3,500
common stock ($1 par) and additional paid-in capital 112,000 97,000
retained earnings 57,000 51,500
total liabilities and equity $ 2 66,000 $ 2 42,000

(comparative income statement)

sales $ 1 55,000 $ 1 25,000
cost of goods sold 8 3,000 6 2,500
gross profit $ 7 2,000.00 $ 6 2,500
selling and administrative 4 5,700 3 7,500
depreciation 18,000 16,800
operating profit $ 8 ,300 $ 8 ,200
interest expense 2 ,000 1 ,327
earnings before tax $ 6 ,300 $ 6 ,873
tax expense 8 00 8 73
net income $ 5 ,500 $ 6 ,000
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Price Type: Negotiable

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