Dana-Stallings, Inc., had the following financial statements for 20X1 and 20X2 ASSETS 20X1 Cash Marketable securities...
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Dana-Stallings, Inc., had the following financial statements for 20X1 and 20X2 ASSETS 20X1 Cash Marketable securities Accounts receivable Inventories Current assets Net fixed assets Total LIABILITIES AND EQUITY Accounts payable Accrued expenses Bank borrowings Current liabilities Common stock Retained earnings Total $ 53,000 87,000 346,000 432,000 $ 918,000 1,113,000 $2,031,000 $ 413,000 226,000 100,000 $ 739,000 100,000 1,192,000 $2,031,000 $ 20X2 31,000 0 528,000 683,000 $1,242,000 1,398,000 $2,640,000 $ 627,000 314,000 235,000 $1,176,000 100,000 1,364,000 $2,640,000 Note: For 20X2, depreciation was $189,000; interest paid was $21,000; taxes paid amounted to $114,000; and no dividends were paid. Question 1 Using the information provided prepare a statement of cash flows 20X2 consider (Net profit $ 172000). Dana-Stallings, Inc., had the following financial statements for 20X1 and 20X2 ASSETS 20X1 Cash Marketable securities Accounts receivable Inventories Current assets Net fixed assets Total LIABILITIES AND EQUITY Accounts payable Accrued expenses Bank borrowings Current liabilities Common stock Retained earnings Total $ 53,000 87,000 346,000 432,000 $ 918,000 1,113,000 $2,031,000 $ 413,000 226,000 100,000 $ 739,000 100,000 1,192,000 $2,031,000 $ 20X2 31,000 0 528,000 683,000 $1,242,000 1,398,000 $2,640,000 $ 627,000 314,000 235,000 $1,176,000 100,000 1,364,000 $2,640,000 Note: For 20X2, depreciation was $189,000; interest paid was $21,000; taxes paid amounted to $114,000; and no dividends were paid. Question 1 Using the information provided prepare a statement of cash flows 20X2 consider (Net profit $ 172000).
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Answer rating: 100% (QA)
To prepare the statement of cash flows for 20X2 we need to calculate the net cash provided by operating activities investing activities and financing ... View the full answer
Related Book For
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Posted Date:
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