Dynamic Mattress Year-End Balance Sheet for 2020 (figures in $ millions) Balance Sheet (year-end) Assets Cash...

  

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Dynamic Mattress Year-End Balance Sheet for 2020 (figures in $ millions) Balance Sheet (year-end) Assets Cash Marketable Securities Accounts Receivable Inventory Total current assets Fixed Assets Property, Plant and Equipment Less: Accumulated Depreciation. Net Fixed Assets Total Assets Liabilities and Equity Bank Loans Accounts Payable Total Current Liabilities Long-Term Debt Shareholder's Equity Total Liability and Shareholder's Equity Dynamic Mattress Income Statement for 2020 (figures in $ millions) Sales Operating costs Depreciation Interest Pretax income Tax at 50% Net income $ 1,650.0 1,330.0 $ 320.0 21.5 $ 298.5 65.0 $ 233.5 116.8 $116.8 Notes: Dividends = $45. Retained earnings = $71.8. 2019 194.8 25.0 95.0 85.0 399.0 315.0 85.0 230.0 629.0 35.0 98.0 125.0 40.0 464.0 629.0 2020 387.3 0.0 140.0 145.0 592.3 335.0 106.5 228.5 820.8 55.0 140.0 195.0 90.0 535.8 820.8 Prepare the statement of cash flows for 2020. Note: Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate ca in millions rounded to 1 decimal place. Negative answers should be indicated with a minus sign. Dynamic Mattress Statement of Cash Flows for 2020 (figures in $ millions) Sources of cash: Sold marketable securities Increased bank loans Increased accounts payable. Increased long-term debt Cash from operations: Net income Depreciation Total sources Uses of cash: Increased inventories Increased accounts receivable Invested in fixed assets Dividend Total uses Net increase (decrease) in cash) Dynamic Mattress Year-End Balance Sheet for 2020 (figures in $ millions) Balance Sheet (year-end) Assets Cash Marketable Securities Accounts Receivable Inventory Total current assets Fixed Assets Property, Plant and Equipment Less: Accumulated Depreciation. Net Fixed Assets Total Assets Liabilities and Equity Bank Loans Accounts Payable Total Current Liabilities Long-Term Debt Shareholder's Equity Total Liability and Shareholder's Equity Dynamic Mattress Income Statement for 2020 (figures in $ millions) Sales Operating costs Depreciation Interest Pretax income Tax at 50% Net income $ 1,650.0 1,330.0 $ 320.0 21.5 $ 298.5 65.0 $ 233.5 116.8 $116.8 Notes: Dividends = $45. Retained earnings = $71.8. 2019 194.8 25.0 95.0 85.0 399.0 315.0 85.0 230.0 629.0 35.0 98.0 125.0 40.0 464.0 629.0 2020 387.3 0.0 140.0 145.0 592.3 335.0 106.5 228.5 820.8 55.0 140.0 195.0 90.0 535.8 820.8 Prepare the statement of cash flows for 2020. Note: Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate ca in millions rounded to 1 decimal place. Negative answers should be indicated with a minus sign. Dynamic Mattress Statement of Cash Flows for 2020 (figures in $ millions) Sources of cash: Sold marketable securities Increased bank loans Increased accounts payable. Increased long-term debt Cash from operations: Net income Depreciation Total sources Uses of cash: Increased inventories Increased accounts receivable Invested in fixed assets Dividend Total uses Net increase (decrease) in cash)

Answer rating: 100% (QA)

To prepare the statement of cash flows for 2020 well use the indirect method Lets start by calculating the changes in various balance sheet items and ... View the full answer