Question: Exercise 20 Using the information in the table, prepare income statement for 2009 and Balance sheets for 2008 and 2009. Calculate Cash flow from assets,

Exercise 20 Using the information in the table, prepare income statement

Exercise 20 Using the information in the table, prepare income statement for 2009 and Balance sheets for 2008 and 2009. Calculate Cash flow from assets, cash flow to creditors and cash flow to stockholders. (Tax Rate 35%) 2008 2009 $4,507 2,633 952 196 Sales Cost of goods sold Depreciation Interest Dividends Current assets Net fixed assets Current liabilities Long-term debt $4,203 2,422 785 180 225 2,205 7,344 1,003 3,106 250 2,429 7,650 1,255 2,085

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