p. Increase in inventory q. Net cash flow from operating activities r. Increase in other long-term assets Questions on precis s. Net cash flow from investing activities t. Increase in notes payable Page + Current u. Pay dividends v. Net cash flow from financing activities Page Worldwide Widget Manufacturing, Inc. Statement of Retained Earnings as of December 31, 2019 (in millions of dollars) Balance of retained earnings, December 31, 2018 $1,142 Plus: Net income for 2019 W. ? Preferred stock X. ? Common stock 219 Total cash dividends paid 317 Balance of retained earnings, December 31, 2019 $1,489 w. Plus: Net income for 2019 X. Preferred stockWorldwide Widget Manufacturing, Inc. Balance Sheet as of December 31, 2019, and 2018 (in millions of dollars 2019 2018 2019 2018 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable $427 $322 securities Accrued wages and taxes $309 $257 Accounts receivable a. ? 259 Accounts payable 381 b. ? Inventory 815 797 Notes payable $492 $421 Total $1,542 $1,378 Total $1,182 $997 Long-term debt: 1.934 C . ? Fixed assets: Gross plant and d. ? $2,817 Total 3,116 2,956 equipment Less: Depreciation 368 254 Stockholders' equity: Net plant and Preferred stock (30 million $2,872 $2,563 $30 $30 equipment shares Other long-term Common stock and paid-in 521 487 300 e. assets surplus (250 million shares) Retained earnings 1,489 1,142 Total FA f. ? $3,050 Total Equity $1,819 $1,472 Total assets $4,935 $4,428 Total liabilities and equity $4,935 $4,428Subtractions (uses of cash): Increase in accounts receivable -41 Increase in inventory P. Net cash flow from operating activities q. Section B. Cash flows from investing activities Subtractions: Increase in fixed assets -$343 Increase in other long-term assets r. ? Net cash flow from investing activities: S . ? Section C. Cash flows from financing activities Additions: t . ? Increase in notes payable O Increase in common and preferred stock Subtractions: -25 Decrease in long-term debt Pay dividends U. ? Net cash flow from financing activities: V. ? Section D. Net change in cash and marketable securities $105 n. Net income . Increase in accrued wages and taxesand repeat steps b and c. Repeat until all files are 8. Press Submit. Be sure to keep a backup copy of any files you submit to the school. Objective istrate the ability to perform financial calculations and analyses related to the concepts covered in this course. Purpose The purpose of this project is to give you practical experience with financial computations and decision making in the Financial Management field. In this project, you'll calculate and analyze company balance sheets in the role of a financial manager. Your assignment is to analyze the financial position of the companies mentioned and make recommendations as to the most productive use of their assets and the ideal financial structures for their balance sheets. Show all calculations or calculator inputs for credit. Do all work using equations and a calculator. Do not submit or use an Excel spreadsheet to calculate. Part 1: Financial Statements and Ratios 1 A. You're the chief financial officer (CFO) of Worldwide Widget Manufacturing, Inc. The company manufactures and sells widgets at factories in the United States and internationally. Listed below are partial financial statements for Worldwide Widget Manufacturing, Inc. Fill in the missing information in each of the following financial statements. Answer spaces are given below. acer W A S D mLess: Common stock dividends 219 199 Addition to retained earnings $34 $249 Per (common) share data: Earnings per share (EPS) K. ? $1.79 Dividends per share (DPS) $0.88 1. ? Book value per share (BVPS) m. $5.77 Market value per share (MVPS) $23.97 $22.47 g. Net sales for 2019 h. Less: Cost of goods sold for 2018. i. Less: Interest for 2019 2- Questions that need to j. Less: Taxes for 2019 k. Earnings per share (EPS) for 2019 be answered 1. Dividends per share (DPS) for 2018. m. Book value per share (BVPS) for 2019 Worldwide Widget Manufacturing, Inc. Statement of Cash Flows for Year Ending December 31, 2019 (in millions of dollars) Section A. Cash flows from operating activities Net income n. ? Additions (sources of cash): Depreciation 114 Increase in accrued wages and taxes O. ? Increase in accounts payable 62a. Accounts receivable for 2019 b. Accounts payable for 2018 c. Long-term debt for 2018 d. Gross plant and equipment for 2019 Questions that e. Common stock and paid-in surplus (250 million shares) for 2018 have to be answered [. Total FA for 2019 For project . Worldwide Widget Manufacturing, Inc. Income Statement for Years Ending December 31, 2019, and 2018 (in millions of dollars) 2019 2018 Net sales g. $2,018 Less: Cost of goods sold 753 h . ? $1,623 $1,189 Gross profits 423 167 Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) $1,200 $1,022 114 114 Less: Depreciation $1,086 $ 908 Earnings before interest and taxes (EBIT) i. ? 128 Less: Interest Earnings before taxes (EBT) $949 $780 Less: Taxes j. ? 234 Net income $664 $546 Less: Preferred stock dividends 98 98 Net income available to common stockholders $566 $448