Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory...
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Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets 2020 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $35,585 $38,940 18,401 28,846 3,970 43,112 $57,956 $110,898 $ 465,585 $ 521,433 Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total $ 523,541 $632,331 Total liabilities and owners' equity 2021 $38,802 $43,182 20,208 17,100 20,944 25,594 $ 79,954 $85,876 2020 $ 121,000 $ 56,200 $56,200 266,387 303,409 $ 322,587 $ 186,846 $ 523,541 $ 359,609 $ 632,331 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (22%) Net income Dividends Retained earnings $ 27,000 37,022 $512,454 363,528 45,963 $ 102,963 20,883 $82,080 18,058 $ 64,022 Prepare the 2021 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) SMOLIRA GOLF CORPORATION Statement of Cash Flows For 2021 Cash, beginning of the year Operating activities Net cash from operating activities Investment activities Net cash from investment activities Financing activities Net cash from financing activities Cash, end of year Some recent financial statements for Smolira Golf Corporation follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets 2020 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $35,585 $38,940 18,401 28,846 3,970 43,112 $57,956 $110,898 $ 465,585 $ 521,433 Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total $ 523,541 $632,331 Total liabilities and owners' equity 2021 $38,802 $43,182 20,208 17,100 20,944 25,594 $ 79,954 $85,876 2020 $ 121,000 $ 56,200 $56,200 266,387 303,409 $ 322,587 $ 186,846 $ 523,541 $ 359,609 $ 632,331 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (22%) Net income Dividends Retained earnings $ 27,000 37,022 $512,454 363,528 45,963 $ 102,963 20,883 $82,080 18,058 $ 64,022 Prepare the 2021 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) SMOLIRA GOLF CORPORATION Statement of Cash Flows For 2021 Cash, beginning of the year Operating activities Net cash from operating activities Investment activities Net cash from investment activities Financing activities Net cash from financing activities Cash, end of year
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Posted Date:
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