Create a statement of cash flow for the current year using Wright Co's income statement and balance sheet. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Income Statement: Current Year Revenue 4,742.00 Cost of Goods Sold 2,323.58 Gross Margin 2,418.42 SG&A 524.00 EBITDA 1,894.42 Depreciation Expense 504.00 EBIT 1,390.42 Interest Expense 164.20 EBT 1,226 Taxes 429.18 Net Income 797.04 Dividends 410 Addition to Retained Earnings 387.04 Balance Sheet: Assets Prior Year Current Year Cash 800 ???? Accounts Receivables 400 452.00 Inventory 300 358.00 Total Current Assets 1,500 ???? Net Fixed Assets 5,000 5,211.00 Total Asset 6,500 ???? Liabilities and Equity Prior Year Current Year Accounts Payable 300 320.00 Notes Payable 1,000 919.00 Total Current Liabilities 1,300 1,239.00 Long-Term Debt 2,000 2,365.00 Total Liabilities 3,300 ???? Common Stock and Paid-in Capital 2,200 2,200 Retained Earnings 1,000 1,387.04 Total Equity 3,200 ???? Total Liabilities & Equity 6,500 ???? Use SinCo's Income Statement and Balance Sheet to create a Statement of Cash Flows for the current year. What is Wright's Change in Working Capital What is Wright's Cash Flow from Operations What is Wright's Cash Flow from Investments What is Wright's Provide by Financing Actives What is Wright's Net change in cash What is Wright's Ending Cash Balance Does the 2014 Cash Balance from the Balance Sheet equal the Ending Cash Balance from the Statement of Cash Flows? True or False

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Create a statement of cash flow for the current year using Wright Co's income statement and balance sheet. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Income Statement:	Current Year
Revenue	4,742.00
Cost of Goods Sold	2,323.58
Gross Margin	2,418.42
SG&A	524.00
EBITDA	1,894.42
Depreciation Expense	504.00
EBIT	1,390.42
Interest Expense	164.20
EBT	1,226
Taxes	429.18
Net Income	797.04
Dividends	410
Addition to Retained Earnings	387.04

Balance Sheet:

Assets	Prior Year	Current Year
Cash	800	????
Accounts Receivables	400	452.00
Inventory	300	358.00
Total Current Assets	1,500	????
Net Fixed Assets	5,000	5,211.00
Total Asset	6,500	????

Liabilities and Equity	Prior Year	Current Year
Accounts Payable	300	320.00
Notes Payable	1,000	919.00
Total Current Liabilities	1,300	1,239.00
Long-Term Debt	2,000	2,365.00
Total Liabilities	3,300	????
Common Stock and Paid-in Capital	2,200	2,200
Retained Earnings	1,000	1,387.04
Total Equity	3,200	????
Total Liabilities & Equity	6,500	????

Use SinCo's Income Statement and Balance Sheet to create a Statement of Cash Flows for the current year.

What is Wright's Change in Working Capital
What is Wright's Cash Flow from Operations
What is Wright's Cash Flow from Investments
What is Wright's Provide by Financing Actives
What is Wright's Net change in cash
What is Wright's Ending Cash Balance

Does the 2014 Cash Balance from the Balance Sheet equal the Ending Cash Balance from the Statement of Cash Flows?

True or False

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