Using the information from 2-12, prepare the cash flow statement for Rhodes Corporation. Information from 2-12: Rhodes
Question:
Using the information from 2-12, prepare the cash flow statement for Rhodes Corporation.
Information from 2-12:
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars)
Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)
Transcribed Image Text:
2014 2015 $11,000 $10,000 Sales Operating costs excluding depreciation Depreciation and amortization Earnings before interest and taxes Less interest Pre-tax income Taxes (40%) Net income available to common shareholders Common dividends 9,360 8,500 380 360 1,140 1,260 120 100 1,140 1,040 416 456 $ 624 684 220 200 %24 2015 2014 Assets Cash 550 $ 500 Short-term investments 110 100 Accounts receivable 2,750 2,500 Inventories 1,650 1,500 Total current assets 5,060 4,600 Net plant and equipment 3,850 3,500 Total assets $ 8,910 $ 8,100 Liabilities and Equity Accounts payable $ 1,100 $ 1,000 Accruals 550 500 Notes payable 384 200 Total current liabilities 2,034 1,700 1,000 2,700 Long-term debt 1,100 Total liabilities 3,134 Common stock (120 million shares) 4,312 4,400 Retained earnings 1,464 1,000 Total common equity 5,776 $ 8,910 5,400 Total liabilities and equity $ 8,100 Price per share 60 55 WACC 12% 12% %24 %24
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Related Book For
Financial Management Theory And Practice
ISBN: 978-0176583057
3rd Canadian Edition
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
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