Use the balance sheet and following income statement to construct a statement of cash flows for Clancys
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Use the balance sheet and following income statement to construct a statement of cash flows for Clancy’s Dog BiscuitCorporation.
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Clancy's Dog Biscuit Corporation Balance Sheet as of December 31,2015 and 2014 (in millions of dollars 2015 2014 2015 2014 Assets Current assets Liabilities & Equity Current liabilities Cash and marketable Accrued wages and taxes $ 10 S 6 securities Accounts receivable 20 Inventory 19 Accounts payable 29 Notes payable 0 S 61 S53 0 $ 40 S 34 Fixed assets Long-term debt: $ 57 S53 Gross plant and equipment $106 S 88 Stockholders' equity: Less: Depreciation Preferred stock (2 million shares) $ $ 15 $ 91 77 $106 $.e2 $167 2 2 Net plant and equipment Other long-term Common stock and paid-in surplus (5 million shares) assets 15 Retained earnings Total 0 $ 70 $ 58 Total assets $145 Total liabilities and equity $167 $145 Clancy's Dog Biscuit Corporation Income Statement for Years Ending December 31, 2015 and 2014 millions of dollars 2015 2014 Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and S 38 amortization (EBITDA) Less: Depreciation Eamings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income S 32 4 S 28 $ 41 4 S 37 S 23 S 32 Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained eamings Per (common) share data $15 $12 $18 Eamings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) $3.00 $0.60 $13.60 $14.25 $0.60 $11.20 $14.60
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Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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