Question: Using info below, what is the net cash flow for Fox's 2020 SCFs Investing activities? Income BS Liabs 2020 BS Assets 12/31/20 12/31/19 12/31/20 12/31/19

 Using info below, what is the net cash flow for Fox's

Using info below, what is the net cash flow for Fox's 2020 SCFs Investing activities? Income BS Liabs 2020 BS Assets 12/31/20 12/31/19 12/31/20 12/31/19 Stmt & SE Accts Sales: $900,000 Cash: $ 12,000 $ 24,000 $ 12,000 $ 80,000 Payable: Taxes CGS: (350,000) Accts Rec: 124,000 102,000 8,000 12,000 Payable: Divs Gross Profit: $550,000 AFS Secs: 70,000 36,000 16,000 20,000 Payable: Wages Op. Exp: (240,000) Inventory: 80,000 120,000 16,000 8,000 Payable: Prepaid Interest Gain -Equip : 5,000 10,000 8,000 2,000 Rent: Payable: Notes Interest Rev: 3,000 Land: 250,000 180,000 120,000 138,000 Payable: Common Interest Exp: (6,000) Equipment: 180,000 260,000 16,000 15,000 Stock: Accum Additional Pre-Tax NI: $312,000 (70,000) (50,000) 160,000 147,000 Depr: PIC: Retained Income Tax: (80,000) Patents: 94,000 100,000 400,000 360,000 Earnings: NI: $232,000 Totals: $750,000 $780,000 Totals: $750,000 $780,000 Notes: 1) The only long-term asset sold in 2020 is Equipment with an $80,000 cost & 20% depreciated when sold. 2) All Depreciation & Amortization Expenses are included in Operating Expense (Op.Exp.)

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 Accounting Questions!