Thornton Corporation’s accountants prepared the following financial statements for year-end 2022. The statements include an income statement covering 2022, and balance sheets that show assets, liabilities, and equity account balances as of year-ends 2021 and 2022. All amounts are in thousands of dollars.

 

  

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THORNTON CORPORATION Income Statement 2022 Revenue Cost of Goods Sold Selling, General, and Admin Expenses Depreciation EBIT Interest Expense EBT Taxes Net income Dividends paid in 2022 Assets: Cash Other current assets Total Current Assets Net fixed assets Total assets THORNTON CORPORATION Balance Sheet 31-Dec Liabilities and Equity Total Current Liabilities Long-term debt Stockholders' equity $ 840.00 $ 520.00 $ 120.00 $ 120.00 Total liabilities and equity $ 80.00 $ 15.00 $ 65.00 $ 13.00 $ 52.00 $24 2021 2022 $ 60.00 $ 75.00 $180.00 $200.00 $240.00 $275.00 $450.00 $600.00 $690.00 $875.00 $150.00 $140.00 $120.00 $160.00 $420.00 $575.00 $690.00 $875.00 THORNTON CORPORATION Income Statement 2022 Revenue Cost of Goods Sold Selling, General, and Admin Expenses Depreciation EBIT Interest Expense EBT Taxes Net income Dividends paid in 2022 Assets: Cash Other current assets Total Current Assets Net fixed assets Total assets THORNTON CORPORATION Balance Sheet 31-Dec Liabilities and Equity Total Current Liabilities Long-term debt Stockholders' equity $ 840.00 $ 520.00 $ 120.00 $ 120.00 Total liabilities and equity $ 80.00 $ 15.00 $ 65.00 $ 13.00 $ 52.00 $24 2021 2022 $ 60.00 $ 75.00 $180.00 $200.00 $240.00 $275.00 $450.00 $600.00 $690.00 $875.00 $150.00 $140.00 $120.00 $160.00 $420.00 $575.00 $690.00 $875.00

Answer rating: 100% (QA)

To calculate Thornton Corporations operating cash flow for 2022 we need to start with the net income ... View the full answer