Ritter Corporation's accountants prepared the following financial statements for year-end 2021: (Do not round intermediate calculations.)...

Transcribed Image Text:

Ritter Corporation's accountants prepared the following financial statements for year-end 2021: (Do not round intermediate calculations.) RITTER CORPORATION Income Statement 2021 Revenue $ 781 Expenses 539 Depreciation 94 Net Income $148 Dividends $115 RITTER CORPORATION Balance Sheet December 31 2020 2021 Assets Cash $ 65 $ 87 Other current assets 177 195 Net fixed assets 400 420 $642 $702 Total assets Liabilities and Equity Accounts payable Long-term debt $ 131 $ 149 157 166 354 387 Stockholders' equity Total liabilities and equity $642 $702 a. What Is the change in cash during 2021? b. Determine the change in net working capital in 2021. c. Determine the cash flow generated by the firm's assets during 2021. a. Change in cash b. Change in net working capital c. Cash flow from assets Amount Ritter Corporation's accountants prepared the following financial statements for year-end 2021: (Do not round intermediate calculations.) RITTER CORPORATION Income Statement 2021 Revenue $ 781 Expenses 539 Depreciation 94 Net Income $148 Dividends $115 RITTER CORPORATION Balance Sheet December 31 2020 2021 Assets Cash $ 65 $ 87 Other current assets 177 195 Net fixed assets 400 420 $642 $702 Total assets Liabilities and Equity Accounts payable Long-term debt $ 131 $ 149 157 166 354 387 Stockholders' equity Total liabilities and equity $642 $702 a. What Is the change in cash during 2021? b. Determine the change in net working capital in 2021. c. Determine the cash flow generated by the firm's assets during 2021. a. Change in cash b. Change in net working capital c. Cash flow from assets Amount

Answer rating: 100% (QA)

a To calculate the change in cash during 2021 we need to compare the cash balance at the end of 2021 ... View the full answer