The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Cash flows from operations Noncash expenses Changes in working capital Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities Taxes are paid in their entirety in the year that the tax obligation is incurred. 2021 $ 5,600 1,700 Total change in working capital Cash flows from investments 570 280 440 280 750 320 450 Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2022. Note: Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign. Cash flows from financing activities 4,200 2,400 1,033 500 3,572 Fincorp Incorporated Statement of Cash Flows ($ in 000s) 2022 $ 5,700 1,800 590 345 490 280 770 375 525 4,800 5,300 700 500 420
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Cash flows from operations Noncash expenses Changes in working capital Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities Taxes are paid in their entirety in the year that the tax obligation is incurred. 2021 $ 5,600 1,700 Total change in working capital Cash flows from investments 570 280 440 280 750 320 450 Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a statement of cash flows for Fincorp for 2022. Note: Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign. Cash flows from financing activities 4,200 2,400 1,033 500 3,572 Fincorp Incorporated Statement of Cash Flows ($ in 000s) 2022 $ 5,700 1,800 590 345 490 280 770 375 525 4,800 5,300 700 500 420
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022,
while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in
thousands of dollars.
Revenue
Cost of goods sold
Depreciation
Inventories
Administrative expenses
Cash flows from operations
Noncash expenses
Changes in working capital
Interest expense
Federal and state taxes*
Accounts payable
Accounts receivable
Net fixed assets
Long-term debt
Notes payable
Dividends paid
Cash and marketable securities
* Taxes are paid in their entirety in the year that the tax obligation is incurred.
*Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.
Construct a statement of cash flows for Fincorp for 2022.
Note: Enter your answers in thousands of dollars. Negative amounts should be indicated by a minus sign.
Total change in working capital
Cash flows from investments
2021
$ 5,600
1,700
570
280
440
280
750
320
450
Cash flows from financing activities
Fincorp Incorporated
Statement of Cash Flows
($ in 000s)
4,200
2,400
1,033
500
3,572
2022
$5,700
1,800
590
345
490
280
770
375
525
4,800
5,300
700
500
420
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