In addition:In 2020, Wenwen paid $5,000 of preferred stock dividendsIn 2020, Wenwen also paid common stock dividends Your assignment is to:Prepare a 2020 cash flow statement for Wenwen, Inc. in proper GAAP format. Prepare a free cash flow calculation for 2020 and reconcile the free cash flow total to the total change in cash from the GAAP income statement. Calculate GAAP Cash FlowWenwen, Inc.Income Statement2020Revenue250,000Cost of Revenue160,000Gross Profit90,000R&D15,000Sales & Marketing34,000G&A9,000Total Operating Expenses58,000EBIT32,000Interest Expense7,000ЕВT25,000Taxes5,000Net Income20,000Wenwen, Inc.Wenwen, Inc.Balance SheetBalance Sheet2019202020192020Accounts payableТахes payableCash8,1004,40026,60032,700Short-term investment securities2,2001,3006,7006,200Accounts receivable18,30027,100Short-term debt8,2007,900Inventory35,40031,200Interest Payable1,4001,600Prepaid Rent2,000Accrued wages2,3001,800Prepaid Insurance4,5007,300Deferred revenue - short-term3,7003,600Total current assets68,50073,300Total current liabilities48,90053,800Gross plant and equipmentAccumulated depreciationDeferred revenue - long-termLong-term debt46,60053,40011,1009,700(7,700)38,900(12,500)40,90019,50017,100Total Liabilities79,50080,600Gross intangible assets8,8008,800(1,000)7,800Accumulated amortization(2,700)Common Stock & APIC5,2005,700Net intangible assets6,100Preferred Stock8,1008,100Treasury stockRetained earnings(11,100)39,500Other long term operating assets2,9003,300(13,400)Long term investment securities3,1001,40044,000Total Assets121,200125,000Total Equity41,70044,400Total Liabilities & equity121,200125,000

A cash flow statement refers to those financial statements which depict the overall activities of…

In addition: In 2020, Wenwen paid $5,000 of preferred stock dividends In 2020, Wenwen also paid common stock dividends Your assignment is to: Prepare a 2020 cash flow statement for Wenwen, Inc. in proper GAAP format. Prepare a free cash flow calculation for 2020 and reconcile the free cash flow total to the total change in cash from the GAAP income statement.

In addition: In 2020, Wenwen paid $5,000 of preferred stock dividends In 2020, Wenwen also paid common stock dividends Your assignment is to: Prepare a 2020 cash flow statement for Wenwen, Inc. in proper GAAP format. Prepare a free cash flow calculation for 2020 and reconcile the free cash flow total to the total change in cash from the GAAP income statement.

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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Suppose Gulf Shipping Company had the following results related to cash flows for 2019: Net Income of $5,300,000 Adjustments from Operating Activities of -$500,000 Net Cash Flow from Investing Activities of -$700,000 Net Cash Flow from Financing Activities of $3,200,000 Create a statement of cash flows with amounts in thousands. What is the Net Cash Flow? Note: Financial results are provided in dollars but the income statement units are thousands of dollars. Please specify your answer in the same units as the statement of cash flows (i.e., enter the number from your completed statement of cash flows).
Sheridan Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total SHERIDAN CORPORATION Comparative Balance Sheets December 31 Additional information: 1. 2. 3. 2022 $14,900 21,500 19,700 70,100 (14,800) $111,400 $12,100 75,400 23,900 $111,400 2021 $10,400 23,400 25,900 70,100 (10,700) $119,100 $31,300 70,600 17,200 $119,100 Net income was $22,400. Dividends declared and paid were $15,700. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4.900.
30.For 2020, the FNL Corporation reported $ 21,500 of Income on an Equity Method Investment. During the same year, FNL received $ 1,500 of dividends from this investment. Assuming that the company uses the indirect method to prepare the Statement of Cash Flows, what is the net effect of this investment when adjusting the Net Income to compute the Cash Provided by the Operating Activities? Select one: a It will increase by $ 1,500. b. It will decrease by $ 20,000. c. It will increase by $ 20,000. d. $ 0. It has no effect.
Gojo Company had the following transactions involving current assets and current liabilities during February 2021. Feb 3 Collected accounts receivable of $15,000. 7 Purchased equipment for $23,000 cash. 14 Paid accounts payable of S12,000. 18 Declared cash dividends, $4,000. The dividend will be paid next month. Additional information: As of 1* February 2020, current assets were $120,000 and current liabilities were $40,000. Required: 1) Compute the current ratio as of the beginning of the month. 2) Compute the current ratio after evaluating the effect of each transaction (Consider the effect of each transaction continuously). Did Gojo Company's current ratio improve, deteriorate, or hold steady after each transaction? Show detailed workings to support your answer.
In 2021, Usher Sports Shop had cash flows from investing activities of $420,000 and cash flows from financing activities of −$464,000. The balance in the firm’s cash account was $627,000 at the beginning of 2021 and $604,000 at year-end. Calculate Usher Sports Shop’s cash flow from operations for 2021. (Amounts to be deducted should be indicated by a minus sign.) Cash Flow from Operations = $___________
3) Flow Company has provided the following information for the year ended December 31, 2019: • Cash paid for interest, $20,000 • Cash paid for dividends, $6,000 • Cash dividends received, $4,000 • Cash proceeds from bank loan, $29,000 • Cash purchase of treasury stock, $11,000 • Cash paid for equipment purchase, $27,000 • Cash received from issuance of common stock, $37,000 • Cash received from sale of land with a $32,000 book value, $25,000 • Acquisition of land costing $51,000 in exchange for preferred stock issuance • Payment of a $100,000 note payable by exchanging used machinery with a $77,000 book value and $100,000 fair value How much was Flow's net cash flow from financing activities? A) A net outflow of $51,000. B) A net inflow of $29,000. C) A net outflow of $53,000. D) A net inflow of $49,000. Do not give answer in image
From the following information on the income statement and the balance sheet, what is free cash flow to the firm (FCFF) in 2019? Assume that the tax rate is 0.3. Income Statement  Items 2018 2019 Revenue 2,542 3,004 Cost of goods sold 1,017 1,235 SG&A expense 308 353 Depreciation 409 505 Interest expense 108 155 Balance Sheet  Items 2018 2019 Cash 151 308 Accounts receivable 456 903 Inventory 905 1,207 PP&E 9,087 12,843 Accumulated Dep 4,241 5,739 Accounts payable 605 656 Short-term debt 304 505 Long-term debt 3,044 3,448 Common stock 1,800 1,800 Retained earnings x x
On May 1, Year 3, Love Corporation declared a $59,700 cash dividend to be paid on May 31 to shareholders of record on May 15. Required Record the events occurring on May 1 and May 31 in the following horizontal statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), Investing activities (IA), or financing activities (FA). Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Date May 01 May 31 Assets Balance Sheet Liabilities + • Common Stock LOVE CORPORATION Horizontal Statements Model Retained Revenus Earnings Income Statement Expenses Net Income Flows
Accounts receivable arising from sales to customers amounted to $32000 and $36000 at the beginning and end of 2022, respectively. Income reported on the income statement for the year was $203000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is $235000. $203000. $207000. $199000.
On May 1, Year 3, Love Corporation declared a $74,100 cash dividend to be paid on May 31 to shareholders of record on May 15. Required Record the events occurring on May 1 and May 31 in the following horizontal statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Date May 01 May 31 Assets Balance Sheet Liabilities Common Stock LOVE CORPORATION Horizontal Statements Model Retained Earnings Revenue Income Statement Expenses Net Income Statement of Cash Flows
In 2018, Jake's Jamming Music, Inc. announced an ROA of 8.46 percent, ROE of 13.50 percent, and profit margin of 8.5 percent. The firm had total assets of $8.5 million at year-end 2018. Calculate the 2018 value of net income available to common stockholders for Jake’s Jamming Music, Inc. (Enter your answer in dollars. Round your answer to the nearest whole dollar.) Calculate the 2018 value of common stockholders’ equity for Jake’s Jamming Music, Inc. (Enter your answer in dollars not in millions and round to the nearest whole dollar.)