Use the following information to create an income statement and balance sheet for 2016 and 2017; assume
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Question:
Use the following information to create an income statement and balance sheet for 2016 and 2017; assume the tax rate is 34%. Then, using those statements, calculate for 2017:
- Cash flow from assets
- Cash flow to creditors
- Cash flow to stockholders
2016 | 2017 | |
---|---|---|
Sales | 25,460 | 28,458 |
Depreciation expense | 3,654 | 3,820 |
Cost of goods sold | 8,754 | 10,356 |
Other expenses | 2,082 | 1,812 |
Interest expense | 1,708 | 2,038 |
Cash | 13,348 | 14,226 |
Accounts receivable | 17,674 | 20,742 |
Short-term notes payable | 2,576 | 2,524 |
Long-term debt | 44,704 | 54,198 |
Net fixed assets | 111,954 | 119,400 |
Accounts payable | 9,644 | 10,216 |
Inventory | 31,422 | 33,634 |
Dividends | 3,044 | 3,560 |
Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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