Use the income statement and the list of changes to answer the question.Lightspeed IndustriesIncome StatementRevenueCost of Goods Sold (COGS)Gross IncomeSales, General, & Administrative Expenses (SG&A)Depreciation ExpenseOther ExpensesEarnings Before Interest & Taxes (EBIT)InterestJanuary 1 to December 31, 2022(amounts in thousands)Pre-Tax IncomeIncome TaxesNet Income9,8001,9607,8409808004005,6601705,4902,1963,294Between January 1 and December 31, 2022:1. Accounts Receivable increase by $500,0002. Accounts Payable increase by $700,0003. Gross Property, Plant, & Equipment increase by $9,400,0004. Long Term Debt decreases by $400,000Assume no other changesWhat is the Net Cash Flow?Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars.Please specify your answer in the same units as the financial statements (i.e., enter the number from yourcompleted statement of cash flows).

The net cash flow is calculated as change in cash amount during the period. The net cash flow is…

Ise the income statement and the list of changes to answer the question. Lightspeed Industries Income Statement January 1 to December 31, 2022 (amounts in thousands) Revenue Gross Income Cost of Goods Sold (COGS) Sales, General, & Administrative Expenses (SG&A) Depreciation Expense Earnings Before Interest & Taxes (EBIT) Other Expenses . Pre-Tax Income . Interest Net Income Income Taxes 9,800 1,960 7,840 980 800 400 5,660 170 5,490 2,196 etween January 1 and December 31, 2022: . Accounts Receivable increase by $500,000 Accounts Payable increase by $700,000 Gross Property, Plant, & Equipment increase by $9,400,000 . Long Term Debt decreases by $400,000 ssume no other changes What is the Net Cash Flow? lote: Account change amounts are provided in dollars but the financial statement units are thousands of dollars. lease specify your answer in the same units as the financial statements (i.e., enter the number from your omploted statement of cash flows) 3,294

Ise the income statement and the list of changes to answer the question. Lightspeed Industries Income Statement January 1 to December 31, 2022 (amounts in thousands) Revenue Gross Income Cost of Goods Sold (COGS) Sales, General, & Administrative Expenses (SG&A) Depreciation Expense Earnings Before Interest & Taxes (EBIT) Other Expenses . Pre-Tax Income . Interest Net Income Income Taxes 9,800 1,960 7,840 980 800 400 5,660 170 5,490 2,196 etween January 1 and December 31, 2022: . Accounts Receivable increase by $500,000 Accounts Payable increase by $700,000 Gross Property, Plant, & Equipment increase by $9,400,000 . Long Term Debt decreases by $400,000 ssume no other changes What is the Net Cash Flow? lote: Account change amounts are provided in dollars but the financial statement units are thousands of dollars. lease specify your answer in the same units as the financial statements (i.e., enter the number from your omploted statement of cash flows) 3,294

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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Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. 2020 2021 Sales Depreciation $ 17,573 $16,536 1,781 1,856 Cost of goods sold 4,579 4,827 Other expenses 1,006 884 Interest 855 986 Cash 6,247 6,826 Accounts receivable 8,160 9,787 Short-term notes payable 1,290 1,267 Long-term debt 20,680 24,936 Net fixed assets 51,152 54,633 Accounts payable 4,576 5,004 Inventory 14,487 15,408 1,550 1,738 Dividends Prepare a balance sheet for this company for 2020 and 2021 (Do not round intermediate calculations) Current assets Assets INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 Total assets $ 86,654 Liabilities & Equity Current liabilities Total liabilities & owners' equity $ 6,271
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Net Sales COGS Depreciation EBIT Interest Taxable Income Taxes Net Income 2019 Income Statement Dividends Additions to Retained Earnings 147 647.74 3,456 1,895 235 1,326 320 1,006 211.26 794.74
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Comparative Income Statements Consider the following income statement data from the Mono Company: Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense 2019 2018 $600,000 $450,000 336,000 279,000 105,000 99,000 60,000 50,000 4,000 3,000 Prepare a contparative income statement, showing increases, and decreases in dollars and in percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). Sales Revenue Cost of Goods Sold MONO COMPANY Comparative Income Statements ♦ Selling Expenses Administrative Expenses Total Income before Income Taxes ◆ → $ $ 2019 0 $ 0 0 0 0 oooo 0 0 $ 2018 Increase (Decrease) 0 $ 0 0 0 0 0 0 0 0 $ 0 0 0 0 0 0 0 0 0 Percent Change 0% 0% 0% 0% 0% 0% 0% 0% 0 %
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