The following data come from the financial statements of Mitchell Company for the year ended March 31, 2019 (in millions):

Requirements

1. Prepare Mitchell Company’s cash flow statement for the year ended March 31, 2019. Not all items listed will appear on the cash flow statement.

2. What activities provided the largest source of cash? Is this a sign of financial strength or weakness?

Transcribed Image Text:

Purchases of property, plant, and equipment for cash. $ 2,640 Net income. . Adjustments to reconcile net income to net cash provided by operating activities . Revenues.. Cash, beginning of year. end of year . Cost of goods sold.. Other investing cash payments... Accounts receivable. $ 195 650 265 3,020 Payment of dividends. Common stock. . Issuance of common stock.. Cash proceeds on sale of property, plant, and equipment.. 4,900 2,420 60,100 190 25 220 2,775 Retained earnings.. 12,830 37,550