Question: Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements: Travers

 Complete the missing balance sheet entries for Travers & Co.'s balance

Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements: Travers issued $25 million of new common stock Travers had net income available to common shareholders of $77 million during 2005. At the end of 2005, Travers paid out $61 million in common dividends Travers neither issued nor retired long-term debt during 2005 In 2005, Travers had cash flows from operating activities of $147 million, cash flow from investing activities of -$80 million, and cash flow from financing activities of -$21 million BALANCE SHEET (Millions of dollars) Yr 1 Yr 2 $ 118 67 62 10 140 210 360 $100 52 50 $ 202 150 352 Cash Accounts receivable Inventories Accounts payable Notes payable Accrued liabilities 170 190 Total current assets Total current liabilities$ 247 Long-term debt Total liabilities Preferred stock Common stock Retained earnings 50 208 258 610 Net fixed assets 280 $ 250 Total common equity Total liabilities and equity Total assets 610

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!