USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS LukaDonc, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts receivable Inventory Total current assets Net fixed assets Land Total assets Notes payable Accounts payable Accruals Current portion of LT Debt Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity Year 1 184,600 3,322,800 1,476,800 4,984,200 11,999,000 1,476,800 18,460,000 923,000 2,215,200 553,800 2,399,800 6,091,800 5,722,600 553,800 2,215,200 3,876,600 18,460,000 Year 2 201,700 3,227,200 2,017,000 5,445,900 13,110,500 1,613,600 20,170,000 806,800 2,017,000 806,800 2,823,800 6,454,400 6,252,700 806,800 2,622,100 4,034,000 20,170,000 Additional Data from Company Income Statement(s): Sales in Year 2 Net income in Year 2 Depreciation expense in Year 1 Depreciation expense in Year 2 No long-term assets were sold in either Year 1 or Year 2 40,340,000 806,800 3,322,800 3,832,300 32. What did LukaDonc, Incorporated report as Net Cash Flow from Operating Activities for Year 2? 33. What did LukaDonc, Incorporated report as Net Cash Flow from Investing Activities for Year 2? 34. What did LukaDonc, Incorporated report as Net Cash Flow from Financing Activities for Year 2?
USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS LukaDonc, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts receivable Inventory Total current assets Net fixed assets Land Total assets Notes payable Accounts payable Accruals Current portion of LT Debt Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity Year 1 184,600 3,322,800 1,476,800 4,984,200 11,999,000 1,476,800 18,460,000 923,000 2,215,200 553,800 2,399,800 6,091,800 5,722,600 553,800 2,215,200 3,876,600 18,460,000 Year 2 201,700 3,227,200 2,017,000 5,445,900 13,110,500 1,613,600 20,170,000 806,800 2,017,000 806,800 2,823,800 6,454,400 6,252,700 806,800 2,622,100 4,034,000 20,170,000 Additional Data from Company Income Statement(s): Sales in Year 2 Net income in Year 2 Depreciation expense in Year 1 Depreciation expense in Year 2 No long-term assets were sold in either Year 1 or Year 2 40,340,000 806,800 3,322,800 3,832,300 32. What did LukaDonc, Incorporated report as Net Cash Flow from Operating Activities for Year 2? 33. What did LukaDonc, Incorporated report as Net Cash Flow from Investing Activities for Year 2? 34. What did LukaDonc, Incorporated report as Net Cash Flow from Financing Activities for Year 2?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS
LukaDonc, Incorporated
Balance Sheets for the Years Ending December 31,
(All amounts are in dollars)
Cash
Accounts receivable
Inventory
Total current assets
Net fixed assets*
Land
Total assets
Notes payable
Accounts payable
Accruals
Current portion of LT Debt
Total current liabilities
Long-term debt
Common stock
Capital surplus
Retained earnings
Total liabilities and equity
Year 1
184,600
3,322,800
1,476,800
4,984,200
11,999,000
1,476,800
18,460,000
923,000
2,215,200
553,800
2,399,800
6,091,800
5,722,600
553,800
2,215,200
3,876,600
18,460,000
Year 2
201,700
3,227,200
2,017,000
5,445,900
13,110,500
1,613,600
20,170,000
806,800
2,017,000
806,800
2,823,800
6,454,400
6,252,700
806,800
2,622,100
4,034,000
20,170,000
Additional Data from Company Income Statement(s);
Sales in Year 2
Net income in Year 2
Depreciation expense in Year 1
Depreciation expense in Year 2
*No long-term assets were sold in either Year 1 or Year 2
40,340,000
806,800
3,322,800
3,832,300
32. What did LukaDonc, Incorporated report as Net Cash Flow from Operating Activities for Year 2?
33. What did LukaDonc, Incorporated report as Net Cash Flow from Investing Activities for Year 2?
34. What did LukaDonc, Incorporated report as Net Cash Flow from Financing Activities for Year 2?
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