Some recent financial statements for Smolira Golf Corp. follow. For how many days could Smolira Golf Corp.
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Some recent financial statements for Smolira Golf Corp. follow.
For how many days could Smolira Golf Corp. continue to operate if its cash inflows were suddenly suspended?
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Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets SMOLIRA GOLF CORP. Balance Sheets as of December 31, 2001 and 2002 2002 2001 Taxable income Taxes (35%) Net income $ 650 2,382 4,408 $ 7,440 $13,992 $21,432 Sales Cost of goods sold Depreciation 710 2,106 4,982 $ 7,798 $18,584 Earnings before interest and taxes Interest paid Liabilities and Owners' Equity Current liabilities SMOLIRA GOLF CORP. 2002 Income Statement Dividends Addition to retained earnings Accounts payable Notes payable Other $26,382 Total Total Longterm debt Owners' equity Common stock and paidin surplus Retained earnings Total $4,000 4,632 $28,000 11,600 2,140 $14,260 980 $13,280 4,648 $ 8,632 2001 987 640 90 $ 1,717 $ 4,318 $10,000 5,397 $15,397 $21,432 2002 $ 1,215 718 230 $ 2,163 $ 4,190 $10,000 10,029 $20,029 $26,382
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780072553079
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
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