The following data are based on information in the 2013 annual reports of H&R Block, Inc., and
Intuit, Inc. Dollar amounts are in thousands.
H&R Block, Inc., has subsidiaries that provide tax, investment, retail banking, accounting, and business consulting services and products in the United States, Canada, and Australia. For the fiscal year ended April 30, 2013, the company prepared approximately 25.4 million tax returns.
Intuit, Inc., is the company that sells the popular tax preparation software called Turbo Tax along with its other major product, QuickBooks. In the fiscal year ended July 31, 2013, its products were used by more than 45 million customers.
a. Calculate each company’s net income and net change in cash for 2013.
b. Calculate each company’s ending cash balance for 2013.
c. Notice that cash flows from investing activities were negative for both companies. Do you think this represents something positive or negative about the companies? Write a brief explanation of your answer.
d. Notice that cash flows from financing activities were negative for both companies. Write a brief explanation as to what might have caused this.

  • CreatedApril 20, 2015
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