The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 Revenue $ 3,900 $ 4,000 Cost of goods sold 1,200 1,300 Depreciation 470 490 Inventories 330 400 Administrative expenses 470 520 Interest expense 180 180 Federal and state taxes* 480 500 Accounts payable 350 410 Accounts receivable 370 445 Net fixed assets† 5,000 5,850 Long-term debt 2,300 5,100 Notes payable 790 520 Dividends paid 490 490 Cash and marketable securities 2,525 410 * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2019.
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 Revenue $ 3,900 $ 4,000 Cost of goods sold 1,200 1,300 Depreciation 470 490 Inventories 330 400 Administrative expenses 470 520 Interest expense 180 180 Federal and state taxes* 480 500 Accounts payable 350 410 Accounts receivable 370 445 Net fixed assets† 5,000 5,850 Long-term debt 2,300 5,100 Notes payable 790 520 Dividends paid 490 490 Cash and marketable securities 2,525 410 * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2019.
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 19SP
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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars.
2018 | 2019 | |||||
Revenue | $ |
3,900 |
$ | 4,000 | ||
Cost of goods sold |
1,200 |
1,300 | ||||
470 | 490 | |||||
Inventories | 330 | 400 | ||||
Administrative expenses | 470 | 520 | ||||
Interest expense | 180 | 180 | ||||
Federal and state taxes* | 480 | 500 | ||||
Accounts payable | 350 | 410 | ||||
370 | 445 | |||||
Net fixed assets† | 5,000 | 5,850 | ||||
Long-term debt | 2,300 | 5,100 | ||||
Notes payable | 790 | 520 | ||||
Dividends paid | 490 | 490 | ||||
Cash and marketable securities | 2,525 | 410 | ||||
* Taxes are paid in their entirety in the year that the tax obligation is incurred.
† Net fixed assets are fixed assets net of
Construct a statement of
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