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Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment. Less: Accumulated depreciation. Net plant and equipment Other long-term assets Total Total assets Net sales. Less: Cost of goods sold Gross profits Less: Other operating expenses. $ 2021 Earnings before taxes (EBT) Less: Taxes Net income 86 203 327 85 195 305 $ 616 $ 585 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest $ $1,115 $910 174 127 $941 $783 162 162 $1.103 $945 $1,719 $1,530 2020 Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings, Per (common) share data: Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars). 2021 $ 920 403 $ 517 61 $ 456 47 $ 489 62 $ 347 145 $ 202 $6 $ 196 75 $ 121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes. Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity 2020 $830 366 $ 464 55 Liabilities and Equity $ 409 45 $364 56 $ 308 125 $ 183 $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be Indicated with a minus sign.) $ $ 2021 62 168 145 $ 375 $ 632 6 120 586 $712 $1,719 $ $ 2020 55 155 145 355 $ $ 584 6 120 465 $ 591 $1,530 4

Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment. Less: Accumulated depreciation. Net plant and equipment Other long-term assets Total Total assets Net sales. Less: Cost of goods sold Gross profits Less: Other operating expenses. $ 2021 Earnings before taxes (EBT) Less: Taxes Net income 86 203 327 85 195 305 $ 616 $ 585 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest $ $1,115 $910 174 127 $941 $783 162 162 $1.103 $945 $1,719 $1,530 2020 Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings, Per (common) share data: Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars). 2021 $ 920 403 $ 517 61 $ 456 47 $ 489 62 $ 347 145 $ 202 $6 $ 196 75 $ 121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes. Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity 2020 $830 366 $ 464 55 Liabilities and Equity $ 409 45 $364 56 $ 308 125 $ 183 $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be Indicated with a minus sign.) $ $ 2021 62 168 145 $ 375 $ 632 6 120 586 $712 $1,719 $ $ 2020 55 155 145 355 $ $ 584 6 120 465 $ 591 $1,530 4

Financial Management: Theory & Practice
Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter2: Financial Statements, Cash Flow,and Taxes
Section: Chapter Questions
Problem 1Q: Define each of the following terms: Annual report; balance sheet; income statement Common...
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Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses $ Earnings before taxes (EBT) Less: Taxes Net income 2021 Less: Common stock dividends Addition to retained earnings Per (common) share data: Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest Earnings per share (EPS) Dividends per share (DPS) 86 203 327 85 195 305 $ 616 $ 585 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) $1,115 174 $941 162 162 $1,103 $ 945 783 ITT $1,719 $1,530 Ibrity Less: Preferred stock dividends Net income available to common stockholders CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2020 Book value per share (BVPS) Market value (price) per share (MVPS) $ 910 127 $ 2021 $920 1000! 403 $517 Hot-do 61 $ 456 47 $ 409 62 $ 347 PRIHL 145 $ 202 $ 6 $ 196 75 $ 121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity 2020 $ 830 eius 366 $ 464 55 $409 45 $364 56 $ 308 125 $183 Liabilities and Equity $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be Indicated with a minus sign.) 2021 $ 62 168 145 $ 375 $632 $ 6 120 586 712 $ $1,719 2020 $ 55 155 145 $ 355 $ 584 6 120 465 $ 591 $1,530
Transcribed Image Text:Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses $ Earnings before taxes (EBT) Less: Taxes Net income 2021 Less: Common stock dividends Addition to retained earnings Per (common) share data: Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest Earnings per share (EPS) Dividends per share (DPS) 86 203 327 85 195 305 $ 616 $ 585 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) $1,115 174 $941 162 162 $1,103 $ 945 783 ITT $1,719 $1,530 Ibrity Less: Preferred stock dividends Net income available to common stockholders CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2020 Book value per share (BVPS) Market value (price) per share (MVPS) $ 910 127 $ 2021 $920 1000! 403 $517 Hot-do 61 $ 456 47 $ 409 62 $ 347 PRIHL 145 $ 202 $ 6 $ 196 75 $ 121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity 2020 $ 830 eius 366 $ 464 55 $409 45 $364 56 $ 308 125 $183 Liabilities and Equity $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be Indicated with a minus sign.) 2021 $ 62 168 145 $ 375 $632 $ 6 120 586 712 $ $1,719 2020 $ 55 155 145 $ 355 $ 584 6 120 465 $ 591 $1,530
Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be Indicated with a minus sign.) x Answer is not complete. Statement of Cash Flows for Year Ending December 31, 2021 Hem Om (in millions of dollars) Cash flows from operating activities Net income Additions (sources of cash): Depreciation Increase in accounts payable Increase in accrued wages and taxes Subtractions (uses of cash): Increase in inventory Increase in accounts receivable Net cash flow from operating activities Cash flows from investing activities Subtractions: Increase in fixed assets Increase in other long-term assets Net cash flow from investing activities Cash flows from financing activities Additions: Increase in notes payable Increase in long-term debt Increase in common and preferred stock Subtractions: Common stock dividends Preferred stock dividends Net cash flow from financing activities Net change in cash and marketable securities
Transcribed Image Text:Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be Indicated with a minus sign.) x Answer is not complete. Statement of Cash Flows for Year Ending December 31, 2021 Hem Om (in millions of dollars) Cash flows from operating activities Net income Additions (sources of cash): Depreciation Increase in accounts payable Increase in accrued wages and taxes Subtractions (uses of cash): Increase in inventory Increase in accounts receivable Net cash flow from operating activities Cash flows from investing activities Subtractions: Increase in fixed assets Increase in other long-term assets Net cash flow from investing activities Cash flows from financing activities Additions: Increase in notes payable Increase in long-term debt Increase in common and preferred stock Subtractions: Common stock dividends Preferred stock dividends Net cash flow from financing activities Net change in cash and marketable securities
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is deducted should be Indicated with a minus sign.) x Answer is complete but not entirely correct. Statement of Cash Flows for Year Ending December 31, 2021 (in millions of dollars) Cash flows from operating activities Net income Additions (sources of cash): P Depreciation Increase in accounts payable Increase in accrued wages and taxes Subtractions (uses of cash): Increase in inventory Increase in accounts receivable Net cash flow from operating activities Cash flows from investing activities Subtractions: Increase in fixed assets Increase in other long-term assets Net cash flow from investing activities Cash flows from financing activities Additions: s Dog Biscult Corporation. (Enter your answers in millions of dollars. Amounts to be 16-17 Increase in notes payable Increase in long-term debt Increase in common and preferred stock Subtractions: Common stock dividends Preferred stock dividends Net cash flow from financing activities Net change in cash and marketable securities $ 202 47 $ WH (22) (8) $ 239 13 7 $ (205) 0 $ (205) 69 0 48 0 (6) (75) $ (33) $ 1 X X ×››>
Transcribed Image Text:is deducted should be Indicated with a minus sign.) x Answer is complete but not entirely correct. Statement of Cash Flows for Year Ending December 31, 2021 (in millions of dollars) Cash flows from operating activities Net income Additions (sources of cash): P Depreciation Increase in accounts payable Increase in accrued wages and taxes Subtractions (uses of cash): Increase in inventory Increase in accounts receivable Net cash flow from operating activities Cash flows from investing activities Subtractions: Increase in fixed assets Increase in other long-term assets Net cash flow from investing activities Cash flows from financing activities Additions: s Dog Biscult Corporation. (Enter your answers in millions of dollars. Amounts to be 16-17 Increase in notes payable Increase in long-term debt Increase in common and preferred stock Subtractions: Common stock dividends Preferred stock dividends Net cash flow from financing activities Net change in cash and marketable securities $ 202 47 $ WH (22) (8) $ 239 13 7 $ (205) 0 $ (205) 69 0 48 0 (6) (75) $ (33) $ 1 X X ×››>
Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses $ 86 203 327 $ 616 2021 $1,115 174 941 162 $1,103 $1,719 $ Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Earnings before interest, taxes, depreciation, and amortization (EBITDA) CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings. Per (common) share data: 2020 $ 85 195 305 $ 585 $ CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 910 127 $ 783 162 $945 $1,530 2021 $ 920 403 $ 517 61 $ 456 47 $ 409 62 $ 347 145 $ 202 $ 6 $196 75 $121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity. 2020 $ 830 366 $ 464 55 $ 409 45 $364 56 $ 308 125 $183 Liabilities and Equity $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 2021 $ 62 168 145 $ 375 $ $ 632 $ 6 120 586 $ 712 $1,719 2020 $ 55 155 145 355 584 $ 6 120 465 $591 $1,530
Transcribed Image Text:Use the balance sheet and Income statement below: Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses $ 86 203 327 $ 616 2021 $1,115 174 941 162 $1,103 $1,719 $ Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) Less: Accumulated depreciation (2018) Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Earnings before interest, taxes, depreciation, and amortization (EBITDA) CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings. Per (common) share data: 2020 $ 85 195 305 $ 585 $ CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 910 127 $ 783 162 $945 $1,530 2021 $ 920 403 $ 517 61 $ 456 47 $ 409 62 $ 347 145 $ 202 $ 6 $196 75 $121 $1.96 $0.75 $7.06 $8.09 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equity. 2020 $ 830 366 $ 464 55 $ 409 45 $364 56 $ 308 125 $183 Liabilities and Equity $ 6 $ 177 75 $ 102 $1.77 $0.75 $5.85 $6.33 2021 $ 62 168 145 $ 375 $ $ 632 $ 6 120 586 $ 712 $1,719 2020 $ 55 155 145 355 584 $ 6 120 465 $591 $1,530
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