Question 4 You are given the following information for ABC Limited: Sales Cost of goods sold Other operating expenses Depreciation expense Interest Dividends Cash Accounts receivable Inventory Net fixed assets Current liabilities Long-term debt Tax rate 2022 $50,000 $30,000 $20,000 $150,000 $40,000 $70,000 30% 2023 $120,000 $70,000 $14,000 $6,000 $3,500 $4,500 2023 $60,000 $35,000 $25,000 $160,000 $60,000 $80,000 30% Current assets consist of cash, accounts receivable, and inventory. a. Calculate the earnings before interest and taxes (EBIT) for 2023. Show your calculation. b. Calculate the amount of income taxes for 2023. Show your calculation. c. What was the cash flow from assets for 2023? Show your calculation. d. What was the cash flow to creditors for 2023? Show your calculation. e. What was the cash flow to shareholders for 2023? Show your calculation.

Question 4 You are given the following information for ABC Limited: Sales Cost of goods sold Other operating expenses Depreciation expense Interest Dividends Cash Accounts receivable Inventory Net fixed assets Current liabilities Long-term debt Tax rate 2022 $50,000 $30,000 $20,000 $150,000 $40,000 $70,000 30% 2023 $120,000 $70,000 $14,000 $6,000 $3,500 $4,500 2023 $60,000 $35,000 $25,000 $160,000 $60,000 $80,000 30% Current assets consist of cash, accounts receivable, and inventory. a. Calculate the earnings before interest and taxes (EBIT) for 2023. Show your calculation. b. Calculate the amount of income taxes for 2023. Show your calculation. c. What was the cash flow from assets for 2023? Show your calculation. d. What was the cash flow to creditors for 2023? Show your calculation. e. What was the cash flow to shareholders for 2023? Show your calculation.

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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