Long Question Steps Required Kuipers, Inc. 2018 statement of comprehensive income ($ in millions) Net sales $1,384 Less: Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid 80 Taxable income 519 Less: Taxes 156 Net income $363 Addition to retained earnings $254 Dividends paid 109 Kuipers, Inc. 2017 and 2018 Statement of financial positions ($ in millions) 2017 2018 2017 2018 Cash $100 $121 Accounts payable $400 $350 Accounts rec. 350 425 Notes payable 390 370 Inventory 440 410 Total $790 $720 Total $890 $956 Long-term debt 500 550 Net fixed assets 1,556 1,704 Owner's equity Common stock 600 580 Retained 556 810 earnings Total 1,156 1,390 Total assets $2,446 $2,660 Total liabilities $2,446 $2,660 Calculate CFFA for year 2018 using any one method of your choice.
Long Question Steps Required Kuipers, Inc. 2018 statement of comprehensive income ($ in millions) Net sales $1,384 Less: Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid 80 Taxable income 519 Less: Taxes 156 Net income $363 Addition to retained earnings $254 Dividends paid 109 Kuipers, Inc. 2017 and 2018 Statement of financial positions ($ in millions) 2017 2018 2017 2018 Cash $100 $121 Accounts payable $400 $350 Accounts rec. 350 425 Notes payable 390 370 Inventory 440 410 Total $790 $720 Total $890 $956 Long-term debt 500 550 Net fixed assets 1,556 1,704 Owner's equity Common stock 600 580 Retained 556 810 earnings Total 1,156 1,390 Total assets $2,446 $2,660 Total liabilities $2,446 $2,660 Calculate CFFA for year 2018 using any one method of your choice.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Long Question Steps Required
Kuipers, Inc.
2018 statement of comprehensive income
($ in millions)
Net sales
$1,384
Less: Cost of goods sold
605
Less: Depreciation
180
Earnings before interest and taxes
599
Less: Interest paid
80
Taxable income
519
Less: Taxes
156
Net income
$363
Addition to retained earnings
$254
Dividends paid
109
Kuipers, Inc.
2017 and 2018 Statement of financial positions
($ in millions)
2017
2018
2017
2018
Cash
$100
$121 Accounts payable
$400
$350
Accounts rec.
350
425 Notes payable
390
370
Inventory
440
410 Total
$790
$720
Total
$890
$956 Long-term debt
500
550
Net fixed assets
1,556
1,704 Owner's equity
Common stock
600
580
Retained
556
810
earnings
Total
1,156
1,390
Total assets
$2,446
$2,660 Total liabilities
$2,446
$2,660
Calculate CFFA for year 2018 using any one method of your choice.
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