Based on the following information, how much capital expenditures did FIN3300F24 incur in 2023? FIN3300F24 Balance Sheet   As of 12/31/23 As of 12/31/22 Cash $19,000 $54,000 A/R 96,000 75,000 Inventories 273,000 174,000     Total CA $388,000 $303,000 Gross FA 750,000 540,000 Less: accumulated depreciation 238,000 168,000     Net FA $512,000 $372,000          Total Assets $900,000 $675,000 Accounts payable $108,000 $51,000 Accruals 27,000 12,000 Notes payable 273,000 102,000     Total CL $408,000 $165,000 Long-term debt 137,700 172,500 Common stock 189,000 189,000 Retained earnings 165,300 148,500          Total L & E $900,000 $675,000 FIN3300F24 Income Statement      2023 Sales $960,000 Cost of goods sold 576,000     Gross profit $384,000 Operating expenses excluding depreciation $222,000 Depreciation 70,000     Total operating expenses $292,000 EBIT $92,000 Interest expense 36,600 Earnings before taxes $55,400 Taxes (21%) 11,634 Net income $43,766   $70,000 $183,766 $140,000 $210,000

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
Chapter16: Financial Planning And Forecasting
Section: Chapter Questions
Problem 2P: AFN EQUATION Refer to Problem 16-1. What additional funds would be needed if the companys year-end...
Question
 

Based on the following information, how much capital expenditures did FIN3300F24 incur in 2023?

FIN3300F24 Balance Sheet

 

As of 12/31/23

As of 12/31/22

Cash

$19,000

$54,000

A/R

96,000

75,000

Inventories

273,000

174,000

    Total CA

$388,000

$303,000

Gross FA

750,000

540,000

Less: accumulated depreciation

238,000

168,000

    Net FA

$512,000

$372,000

         Total Assets

$900,000

$675,000

Accounts payable

$108,000

$51,000

Accruals

27,000

12,000

Notes payable

273,000

102,000

    Total CL

$408,000

$165,000

Long-term debt

137,700

172,500

Common stock

189,000

189,000

Retained earnings

165,300

148,500

         Total L & E

$900,000

$675,000

FIN3300F24 Income Statement

 

   2023

Sales

$960,000

Cost of goods sold

576,000

    Gross profit

$384,000

Operating expenses excluding depreciation

$222,000

Depreciation

70,000

    Total operating expenses

$292,000

EBIT

$92,000

Interest expense

36,600

Earnings before taxes

$55,400

Taxes (21%)

11,634

Net income

$43,766

 

$70,000

$183,766

$140,000

$210,000

AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
steps

Unlock instant AI solutions

Tap the button
to generate a solution

Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Fundamentals Of Financial Management, Concise Edi…
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning