Question: USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTION LukaDonc, Incorporated Balance Sheets for the Years Ending December 31, (All amounts

USE THE DATA IN THE TABLE BELOW TO ANSWER THE
USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTION LukaDonc, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 184,600 201,700 Accounts receivable 3,322,800 3,227,200 Inventory 1,476,800 2,017,000 Total current assets 4,984,200 5,445,900 Net fixed assets* 11,999,000 13, 110,500 Land 1,476,800 1,613,600 Total assets 18,460,000 20, 170,000 Notes payable 923,000 806,800 Accounts payable 2,215,200 2,017,000 Accruals 553,800 806,800 Current portion of LT Debt 2,399,800 2,823,800 Total current liabilities 6,091,800 6,454,400 Long-term debt 5,722,600 6,252,700 Common stock 553,800 806,800 Capital surplus 2,215,200 2,622, 100 Retained earnings 3,876,600 4,034,000 Total liabilities and equity 18,460,000 20, 170,000 Additional Data from Company Income Statement(s): Sales in Year 2 40,340,000 Net income in Year 2 806,800 Depreciation expense in Year 1 3,322,800 Depreciation expense in Year 2 3,832,300 * No long-term assets were sold in either Year 1 or Year 2 32. What did LukaDonc, Incorporated report as Net Cash Flow from Operating Activities for Year 2? 33. What did LukaDonc, Incorporated report as Net Cash Flow from Investing Activities for Year 2? 34. What did LukaDonc, Incorporated report as Net Cash Flow from Financing Activities for Year 2

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!