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Part 1 What was net income in 2022? 0+ decimals Submit

Part 1 What was net income in 2022? 0+ decimals Submit

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 47E
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Intro Below is the balance sheet for Southern Comfort Company for December 31 of 2021 and 2022. Cash Accounts receivable Inventory Current assets Net fixed assets Total assets A partial income statement for 2022 is also given: Part 1 What was net income in 2022? 0+ decimals Submit 0+ decimals Submit Part 2 What was the operating cash flow in 2022? 0+ decimals Submit 2021 2022 1,700 2,300 5,100 6,900 5,100 6,900 11,900 16,100 22,100 29,900 34,000 46,000 Part 3 What was the change in net working capital? 0+ decimals Submit Sales Cost Part 4 What was net capital spending in 2022? Depreciation Interest Taxes (34%) 0+ decimals Submit Part 5 What was the cash flow from assets in 2022? 2021 2022 Accounts payable 5,100 6,900 Current liabilities 5,100 6,900 Long-term debt 10,200 13,800 15,300 20,700 Total liabilities Equity 18,700 25,300 Total liab. & equity 34,000 46,000 Amount 110,400 60,720 16,560 11,040
Transcribed Image Text:Intro Below is the balance sheet for Southern Comfort Company for December 31 of 2021 and 2022. Cash Accounts receivable Inventory Current assets Net fixed assets Total assets A partial income statement for 2022 is also given: Part 1 What was net income in 2022? 0+ decimals Submit 0+ decimals Submit Part 2 What was the operating cash flow in 2022? 0+ decimals Submit 2021 2022 1,700 2,300 5,100 6,900 5,100 6,900 11,900 16,100 22,100 29,900 34,000 46,000 Part 3 What was the change in net working capital? 0+ decimals Submit Sales Cost Part 4 What was net capital spending in 2022? Depreciation Interest Taxes (34%) 0+ decimals Submit Part 5 What was the cash flow from assets in 2022? 2021 2022 Accounts payable 5,100 6,900 Current liabilities 5,100 6,900 Long-term debt 10,200 13,800 15,300 20,700 Total liabilities Equity 18,700 25,300 Total liab. & equity 34,000 46,000 Amount 110,400 60,720 16,560 11,040
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