Question: I need help creating a cash flow statement using the following information: Balance Sheet 2020 2019 2020 2019 Income Statement 2020 Assets: Liabilities and Equity:
I need help creating a cash flow statement using the following information:
| Balance Sheet | 2020 | 2019 | 2020 | 2019 | Income Statement | 2020 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets: | Liabilities and Equity: | Sales | $1,753 | ||||||||
| Cash | $163 | $154 | Accounts Payable | $266 | $100 | COGS | $900 | ||||
| Accounts Receivable | $550 | $455 | Accruals | $150 | $150 | Depreciation | $90 | ||||
| Inventory | $569 | $450 | Total Current | $416 | $250 | Operating Income | $763 | ||||
| Total Current | $1,282 | $1,059 | |||||||||
| Long-Term Debt | $296 | $350 | Interest Expense | $82 | |||||||
| Net Fixed Assets | $1,739 | $1,400 | Total Liabilities | $712 | $600 | Pretax Income | $681 | ||||
| Total Assets | $3,021 | $2,459 | |||||||||
| Common @ par | $55 | $45 | Taxes | $212 | |||||||
| Capital Surplus | $585 | $494 | Net Income | $469 | |||||||
| Retained Earnings | $1,729 | $1,370 | |||||||||
| Treasury Stock | ($60) | ($50) | Dividends | $110 | |||||||
| Total Equity | $2,309 | $1,859 | Addition to R.E. | $359 | |||||||
| Total Liabilities and Equity | $3,021 | $2,459 |
This is what I've completed so far but I am not understanding where I am wrong:
| Cash Flow Statement | ||||
| Operations: | ||||
| Net Income | 469 | |||
| Depreciation | 90 | |||
| Taxes | 212 | |||
| Changes in Assets and Liabilities | ||||
| Accounts Receivable | -95 | |||
| Inventories | -119 | |||
| Accounts Payable | 166 | |||
| Accrued Expenses | 0 | |||
| Total Cash Flow from Operations | $723 | |||
| Investing Activities: | ||||
| Change in Fixed Assets | -429 | |||
| Total Cash Flow from Investing Activities: | ($429) | |||
| Financing Activities: | ||||
| Retirement of Debt | (54) | |||
| Dividends | 110 | |||
| Repurchase of Stock | (10) | |||
| Proceeds from New Stock Issue | 101 | |||
| Total Cash Flow from Financing: | $147 | |||
| Change in Cash: | $441 | |||
Thank you for your help.
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