Excerpts from The Ink Spot Company statement of cash flows, as adapted, appear as follows: As the
Question:
As the chief executive officer of The Ink Spot Company, your duty is to write the management letter to your stockholders explaining Ink Spot's major investing activities during 2016. Compare the company's level of investment with previous years, and indicate how the company financed its investments during 2016. Net income for 2016 was $4,123 million?
Transcribed Image Text:
A1 The Ink Spot Company and Subsidiaries Consolidated Statement of Cash Flows (Adapted) Years Ended December 31 2 (In millions) 2016 2015 8 Operating Activities 4Net cash provided by operating activities 5 Investing Activities 6 Purchases of property, plant, and equipmert 7 Acquisitions and investments, principally 8 trademarks and bottling companies 9 Purchases of investments 10 Proceeds from disposals of investments 11 Proceeds from disposals of property, plant 2 and equipment 13 Other investing activities 14Net cash used in investing activities 15 Financing Activities 49 (1,001) 951 (521) 668) 384 608 1 183 1,523 178 (1,506 3 16 Issuances of debt (borrowin 3,867 (5,142) 220 58 2,298 4,704 (5,477) 438 (186) 2,172 2,693 17 Payments of debt 18 Issuances of stock 19 Purchases of stock for treasu 20 Dividends 21 Net cash used in financing activities
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
DATE Early in 2017 TO The Ink Spot Company Stockholders FROM Chief Executive Officer RE Investi...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
Question Posted:
Students also viewed these Cost Accounting questions
-
Excerpts from The ABC Company statement of cash flows, as adapted, appear as follows: As the chief executive officer of The ABC Company, your duty is to write the management letter to your...
-
Excerpts from The XYZ Company statement of cash flows, as adapted, appear as follows: As the chief executive officer of The XYZ Company, your duty is to write the management letter to your...
-
Excerpts from The HLH Company statement of cash flows, as adapted, appear as follows: As the chief executive officer of The HLH Company, your duty is to write the management letter to your...
-
For show by the method described in this chapter that the following pairs of FAs are equivalent: FA +1 (1 (1 a. b FA a b
-
A company has two sequential processing departments. On the cost of production reports for the departments, will the cost per unit transferred out of the first department always be equal to the cost...
-
A lattice point in the plane is a point (x, y) where both x and y are integers. Use mathematical induction to show that at least n + 1 straight lines are needed to ensure that every lattice point (x,...
-
A symmetric [0/90/0] laminate is \(0.75 \mathrm{~mm}\) thick and its full compliance matrix is given below: where the units of the matrix are Determine the following effective engineering constants...
-
Dutch Hollow Electronics issues a $400,000, 8%, 10-year mortgage note on December 31, 2011. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note...
-
3. (50 points) You are given a function f(x) = sin(x) + cos(x) on the interval [-3,1] and you want to calculate the first derivative of this function at the points on this interval. Write a MATLAB...
-
Using the percentage method for manual payroll with W-4s from 2020 or later in Appendix C calculate the federal withholding amounts for the following employees. No information was included in Step 4...
-
Answer these questions about consolidation accounting: 1. Define "parent company." Define "subsidiary company." 2. How do consolidated financial statements differ from the financial statements of a...
-
Broadbent Insurance purchased $100,000 of 5.5% DGM bonds on January 1, 2016, at a price of 90 when the market rate of interest was 8%. Broadbent intends to hold the bonds until their maturity date of...
-
Use formulas (1) and (2) and the power rule to find the derivatives of the following functions. f(x) = x 2/3
-
Benjamin DeCosta, CFA has gathered selected year-end balance sheet information (all amounts in millions) for Palantir Technologies (PLTR): Total assets $11,050 Total liabilities $9,500 Preferred...
-
Data on cost objects and cost drivers must be: Question 9 options: Accurate and comprehensive. Comprehensive and efficient. Clean and consistent. Clean and understandable. Consistent and accurate.
-
If The next two questions relate to this information: The population of Washington state in 2012 was estimated to be 6.9 million, increased from the 2011 population estimate of 6.8 million people....
-
Enron and WorldCom in 2001 (Accounting Frauds) are good examples of opportunity cost. ii. Minimizing operational costs cannot be a corporate goal. ili. Maximizing firm value is typically the top...
-
could you provice a full explatioan regarding this discrepancy for fanduel? I used my 20 year old daughter debit card to deposit money - However, she doesn't have my account or wagers any bets. - She...
-
What is the formula that is used to calculate the number of rules a decision table must cover?
-
Consider the combustion of methanol below. If 64 grams of methanol reacts with 160 grams of oxygen, what is the CHANGE in volume at STP. 2CH3OH(g) + 3O2(g) 2CO2(g) + 4H2O(1) The volume decreases by...
-
Morris Corporation decided to issue common stock and used the $300,000 proceeds to retire all of its outstanding bonds on January 1, 2012. The following information is available for the company for...
-
Songbird Airlines is considering these two alternatives for financing the purchase of a fleet of airplanes: 1. Issue 50,000 shares of common stock at $40 per share. (Cash dividends have not been paid...
-
Randolph Company has $1,000,000 in assets and $1,000,000 in stockholders equity, with 40,000 shares outstanding the entire year. It has a return on assets ratio of 10%. In the past year, it had net...
-
Find the future value and interest earned if $8904.56 is invested for 7 years at 5% compounded (a) semiannually and (b) continuously. (a) The future value when interest is compounded semiannually is...
-
A consultant advises that a fund pays out $100,000 at the end of 5 years. Provided $12,000 is invested in the fund at the start of each year, beginning immediately and continuing up to and including...
-
Durco Automotive needs a $2 million balance in its contingency fund 3 years from now. The chief financial officer (CFO) wants to know how much to deposit now into Durco's high-yield investment...
Study smarter with the SolutionInn App