Use the following information to prepare a properly classified cash flow statement for Kohl's incorporated including...
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Use the following information to prepare a properly classified cash flow statement for Kohl's incorporated including any needed disclosures Net sales Cost of merchandise sold Gross margin Selling, general and administrative expenses Depreciation and amortization Operating income Interest expense, net Loss on Sale of Property Gain on Sale of Investments Income before income taxes Provision for income taxes Net income 2021 $19,023 12,098 6,925 4,336 886 Sold property that originally cost $46 for $10 in cash Investments that were sold originally cost $80 1,703 340 16. 10 2 1,349 482 $867 S Assets Current assets: Cash and cash equivalents: Merchandise inventories Deferred income taxes Other Total current assets Property and equipment, net Investments Total assets Liabilities and Shareholders Equity Current liabilities: Accounts payable Accrued liabilities Interest payable Income taxes payable Current portion of capital lease and financing obligations Total current liabilities Long-term debt Capital lease and financing obligations Deferred income taxes Other long-term liabilities Shareholders equity Common stock - 367 and 364 million shares issued. Paid-in capital Treasury stock, at cost, 166 and 153 million Accumulated other comprehensive loss Retained earnings Total shareholders equity Total liabilities and shareholders equity 2021 $1,407 3,814 116 361 5,698 8,515 218 $14,431 $1,511 1,132 28 78 110 2,859 2,795 1,858 368 562 4 2,743 (8,744) 11,988 5,991 $14,431 2020 $971 3,874 142 327 5,314 8,745 298 $14,357 $1,365 1,139 17 98 139 All was paid in 2021 2,758 2,792 1,930 Belongs in 339 operations 560 2,598 (8,052) 11,428 5,978 $14,357 Use the following information to prepare a properly classified cash flow statement for Kohl's incorporated including any needed disclosures Net sales Cost of merchandise sold Gross margin Selling, general and administrative expenses Depreciation and amortization Operating income Interest expense, net Loss on Sale of Property Gain on Sale of Investments Income before income taxes Provision for income taxes Net income 2021 $19,023 12,098 6,925 4,336 886 Sold property that originally cost $46 for $10 in cash Investments that were sold originally cost $80 1,703 340 16. 10 2 1,349 482 $867 S Assets Current assets: Cash and cash equivalents: Merchandise inventories Deferred income taxes Other Total current assets Property and equipment, net Investments Total assets Liabilities and Shareholders Equity Current liabilities: Accounts payable Accrued liabilities Interest payable Income taxes payable Current portion of capital lease and financing obligations Total current liabilities Long-term debt Capital lease and financing obligations Deferred income taxes Other long-term liabilities Shareholders equity Common stock - 367 and 364 million shares issued. Paid-in capital Treasury stock, at cost, 166 and 153 million Accumulated other comprehensive loss Retained earnings Total shareholders equity Total liabilities and shareholders equity 2021 $1,407 3,814 116 361 5,698 8,515 218 $14,431 $1,511 1,132 28 78 110 2,859 2,795 1,858 368 562 4 2,743 (8,744) 11,988 5,991 $14,431 2020 $971 3,874 142 327 5,314 8,745 298 $14,357 $1,365 1,139 17 98 139 All was paid in 2021 2,758 2,792 1,930 Belongs in 339 operations 560 2,598 (8,052) 11,428 5,978 $14,357
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The image youve provided contains financial information for a company and includes an income statement and a balance sheet for the fiscal years 2021 and 2020 To prepare a cash flow statement with the ... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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