PART II: Open-ended Problems Instructions: Determine a solution for each problem. Unless specifically instructed to do otherwise, enter your final numerical answer on the THPS-2 Answer Submission Form on iCollege as follows: enter dollar answers rounded, if necessary, to the nearest whole dollar but do not include a dollar sign or any commas (for example, enter $23,306.84 as 23307); enter percent answer rounded to 1 decimal place, without a percent sign and without any commas (for example, enter 0.274324 = 27.4324% as 27.4); if your answer is a negative amount, put a hyphen before your number with no space between the hyphen and the number (for example, enter negative 72.3984 as -72.4). USE THE INFORMATION BELOW TO ANSWER QUESTIONS 21-23 Fertzil's Fertilizer Store, Incorporated Balance Sheets (all amounts in dollars) For the Years Ending December 31, 2021 and 2022 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Notes payable Accounts payable Wage & Tax accruals Current portion of L.T. Debt Current liabilities L.T. Debt Common stock ($2 par) Paid-in-capital Retained earnings Total Liabilities and Equity Income Statement data for selected years: Net income Depreciation 2021 200 1,500 3,800 5,500 9,000 14,500 300 1,100 500 100 2,000 4,600 2,000 1,200 4,700 14,500 2021 $ 3,900 $ 1,200 21. Calculate the Net Cash Flows from Operating Activities for 2022. 22. Calculate the Net Cash Flows from Investing Activities for 2022. 23. Calculate the Net Cash Flows from Financing Activities for 2022. 2022 100 1,200 4,600 5,900 11,800 17,700 500 1,300 300 300 2,400 5,200 1,600 1,000 7,500 17,700 2022 $ 4,200 $ 1,300
PART II: Open-ended Problems Instructions: Determine a solution for each problem. Unless specifically instructed to do otherwise, enter your final numerical answer on the THPS-2 Answer Submission Form on iCollege as follows: enter dollar answers rounded, if necessary, to the nearest whole dollar but do not include a dollar sign or any commas (for example, enter $23,306.84 as 23307); enter percent answer rounded to 1 decimal place, without a percent sign and without any commas (for example, enter 0.274324 = 27.4324% as 27.4); if your answer is a negative amount, put a hyphen before your number with no space between the hyphen and the number (for example, enter negative 72.3984 as -72.4). USE THE INFORMATION BELOW TO ANSWER QUESTIONS 21-23 Fertzil's Fertilizer Store, Incorporated Balance Sheets (all amounts in dollars) For the Years Ending December 31, 2021 and 2022 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Notes payable Accounts payable Wage & Tax accruals Current portion of L.T. Debt Current liabilities L.T. Debt Common stock ($2 par) Paid-in-capital Retained earnings Total Liabilities and Equity Income Statement data for selected years: Net income Depreciation 2021 200 1,500 3,800 5,500 9,000 14,500 300 1,100 500 100 2,000 4,600 2,000 1,200 4,700 14,500 2021 $ 3,900 $ 1,200 21. Calculate the Net Cash Flows from Operating Activities for 2022. 22. Calculate the Net Cash Flows from Investing Activities for 2022. 23. Calculate the Net Cash Flows from Financing Activities for 2022. 2022 100 1,200 4,600 5,900 11,800 17,700 500 1,300 300 300 2,400 5,200 1,600 1,000 7,500 17,700 2022 $ 4,200 $ 1,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:PART II: Open-ended Problems
Instructions: Determine a solution for each problem. Unless specifically instructed to do otherwise, enter
your final numerical answer on the THPS-2 Answer Submission Form on iCollege as follows: enter dollar
answers rounded, if necessary, to the nearest whole dollar but do not include a dollar sign or any commas
(for example, enter $23,306.84 as 23307); enter percent answer rounded to 1 decimal place, without a
percent sign and without any commas (for example, enter 0.274324 = 27.4324% as 27.4); if your answer is
a negative amount, put a hyphen before your number with no space between the hyphen and the number
(for example, enter negative 72.3984 as -72.4).
USE THE INFORMATION BELOW TO ANSWER QUESTIONS 21-23
Fertzil's Fertilizer Store, Incorporated
Balance Sheets (all amounts in dollars)
For the Years Ending December 31, 2021 and 2022
Cash
Accounts receivable
Inventory
Current assets
Net fixed assets
Total assets
Notes payable
Accounts payable
Wage & Tax accruals
Current portion of L.T. Debt
Current liabilities
L.T. Debt
Common stock ($2 par)
Paid-in-capital
Retained earnings
Total Liabilities and Equity
Income Statement data for selected years:
Net income
Depreciation
2021
200
1,500
3,800
5,500
9,000
14,500
300
1,100
500
100
2,000
4,600
2,000
1,200
4,700
14,500
2021
$ 3,900
$ 1,200
21. Calculate the Net Cash Flows from Operating Activities for 2022.
22. Calculate the Net Cash Flows from Investing Activities for 2022.
23. Calculate the Net Cash Flows from Financing Activities for 2022.
2022
100
1,200
4,600
5,900
11,800
17,700
500
1,300
300
300
2,400
5,200
1,600
1,000
7,500
17,700
2022
$ 4,200
$ 1,300
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