Trail Mixer Corp. earned net income of $200,000 and paid dividends of $80,500 in 2010. Depreciation expense
Question:
Required:
(a) Calculate the money spent on asset purchases in 2010.
(b) Prepare the cash flow statement for 2010.
Transcribed Image Text:
Trail Mixer Corp. Balance Sheet 2010 2009 Current assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Land Buildings, net Furniture, net Equipment, net Total, property, plant, and equipment Intangible assets Copyrights Total assets $36,500 34.000 50,000 120,500 $ 54,000 40,000 40,000 134,000 65,000 400,000 65,000 125,000 655,000 55,000 250,000 56,000 86,000 447,000 96,000 $ 871.500 76,000 657,000 Current liabilities Accounts payable Long-term liabilities Bonds payable Total liabilities Shareholders equity Common shares Retained earnings Total shareholders equity Total liabilities and shareholders' equity $40,000 $ 60,000 300,000 40,000 185,000 245,000 200,000 331,500 200,000 212,000 931.50012.000 $871,500 657,000
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a The asset purchases are calculated as follows Buildings Furniture Equipment Copyrights 2010 balance 400000 65000 125000 96000 2009 balance 250000 56...View the full answer
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Related Book For
Financial Management for Decision Makers
ISBN: 978-0138011604
2nd Canadian edition
Authors: Peter Atrill, Paul Hurley
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