You are researching Time Manufacturing and have found the following accounting statement of cash flows for the
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Question:
You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $ million in current taxes and had an interest expense of $ million.
TIME MANUFACTURING
Statement of Cash Flows
in $ millions
Operations
Net income $
Depreciation
Deferred taxes
Changes in assets and liabilities
Accounts receivable
Inventories
Accounts payable
Accrued expenses
Other
Total cash flow from operations $
Investing activities
Acquisition of fixed assets $
Sale of fixed assets
Total cash flow from investing activities $
Financing activities
Retirement of longterm debt $
Proceeds from longterm debt sales
Dividends
Repurchase of stock
Proceeds from new stock issue
Total cash flow from financing activities $
Change in cash on balance sheet $
a Calculate the operating cash flow. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to decimal place, eg million would be entered as
b Calculate the net capital spending. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to decimal place, eg million would be entered as
c Calculate the change in net working capital. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to decimal place, eg million would be entered as
d Calculate the cash flow to creditors. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to decimal place, eg million would be entered as
e Calculate the cash flow to stockholders. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to decimal place, eg million would be entered as
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