Calculate the Statement of Cash Flows

Balance Sheet
	2014	2015		2014	2015
Cash	$950,254	$453,200	A/P	$1,858,489	$2,300,377
A/R	$2,134,590	$2,976,578
Inventory	$1,897,650	$2,245,678	N/P	$880,256	$1,018,826
Total CA	$4,982,494	$5,675,456	Total CL	$2,738,745	$3,319,203
Net FA	$1,458,950	$1,895,264	LT Debt	$1,527,449	$1,789,520
			Common Stock	$1,500,000	$1,500,000
			Retained Earnings	$675,250	$961,997
Total Assets	$6,441,444	$7,570,720	Total Liab. & Equity	$6,441,444	$7,570,720
				$0	($0)
Income Statement	2015
Revenues	$13,854,120		Operations		Investments		Financing
Cost of Goods Sold	$10,850,322		Net Income		Change in FA		N/P
Gross Profit	$3,003,798		+ Depreciation		- Deprecaition		LT Debt
Expenses	$1,562,333		+/- A/R
Depreciation	$796,540		+/- Inv
EBIT	$644,925		+/- A/P
Interest Expense	$123,567
Taxable Income	$521,358
Taxes (45%)	$234,611
Net Income	$286,747

Answer rating: 100% (QA)

The Statement of Cash Flows has three parts Cash Flows from Operating Activities Cash Flows from Investing Activities and Cash Flows from Financing Ac... View the full answer