Problem #1 Robatics Corporation comparative balance sheets at December 31 (in millions) 2013 Assets Liabilities & Equity 2014 5 2013 2014 20 3 Notes payable 22 Acccunts payable 15 Accrued wages 55 Accrued taxes 5 Long-term debt Cash Accounts receivable 15 12 50 8 2 Inventories Fixed assets, net Other assets 3 15 Common stock 20 26 Retained eamings 40 44 Total assets 90 100 Total liabilities & equity 90 100 Net sales 48 Cost of goods solid Gross profit Selling and administrative expense Depreciation Interest expense 25 23 2 11 Net income before taxes Тахes 4 Net income after tax Retained eamings, 12/31/2013 Sub-total Less: Dividends Retained earnings, 12/31/2014 40 47 3 44 Prepare a statement of cash flows for 2014 using the indirect method for Robotics Corporation.

Problem #1 Robatics Corporation comparative balance sheets at December 31 (in millions) 2013 Assets Liabilities & Equity 2014 5 2013 2014 20 3 Notes payable 22 Acccunts payable 15 Accrued wages 55 Accrued taxes 5 Long-term debt Cash Accounts receivable 15 12 50 8 2 Inventories Fixed assets, net Other assets 3 15 Common stock 20 26 Retained eamings 40 44 Total assets 90 100 Total liabilities & equity 90 100 Net sales 48 Cost of goods solid Gross profit Selling and administrative expense Depreciation Interest expense 25 23 2 11 Net income before taxes Тахes 4 Net income after tax Retained eamings, 12/31/2013 Sub-total Less: Dividends Retained earnings, 12/31/2014 40 47 3 44 Prepare a statement of cash flows for 2014 using the indirect method for Robotics Corporation.

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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Based on the forecast how much additional financing is needed?
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