Problem 3-37 Income versus Cash Flows (L03) The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assetst Long-term debt Notes payable Dividends paid Cash and marketable securities 2018 $4,300 1,200 480 400 430 200 680 300 380 2019 $4,400 1,300 500 435 480 200 700 365 420 4,710 5,500 630 340 430 4,000 3,500 875 340 2,345 * Taxes are paid in their entirety in the year that the tax obligation is incurred. * Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign.) Fincorp Inc. Statement of Cash Flows ($ in 000s) Statement of Lasn riows 10 ($ in 000s) Cash flows from operations Net income 9.09 points Noncash expenses Depreciation expense $ 500 TYYTY eBook Print References Changes in working capital Change in accounts receivable Change in inventories Change in accounts payable 0 $ 500 Total change in working capital Cash provided by operations Cash flows from investments Cash used for additions to property, plant and equipment 0 Cash flows from financing activities Additions to long-term debt Reductions in notes payable Dividends paid Cash used for financing activities Net decrease in cash and cash equivalents 0 $ 500 Problem 3-37 Income versus Cash Flows (L03) The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assetst Long-term debt Notes payable Dividends paid Cash and marketable securities 2018 $4,300 1,200 480 400 430 200 680 300 380 2019 $4,400 1,300 500 435 480 200 700 365 420 4,710 5,500 630 340 430 4,000 3,500 875 340 2,345 * Taxes are paid in their entirety in the year that the tax obligation is incurred. * Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign.) Fincorp Inc. Statement of Cash Flows ($ in 000s) Statement of Lasn riows 10 ($ in 000s) Cash flows from operations Net income 9.09 points Noncash expenses Depreciation expense $ 500 TYYTY eBook Print References Changes in working capital Change in accounts receivable Change in inventories Change in accounts payable 0 $ 500 Total change in working capital Cash provided by operations Cash flows from investments Cash used for additions to property, plant and equipment 0 Cash flows from financing activities Additions to long-term debt Reductions in notes payable Dividends paid Cash used for financing activities Net decrease in cash and cash equivalents 0 $ 500