What is the firm's net income in the current year? What is the firm's dividend payment in the current year? What is the firm's cash flow from operations?
What is the firm's net income in the current year? What is the firm's dividend payment in the current year? What is the firm's cash flow from operations?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
What is the firm's net income in the current year?
What is the firm's dividend payment in the current year?
What is the firm's cash flow from operations?
Transcribed Image Text:Category.
Prior Year Current Year
Accounts payable
3,112.00
5,951.00
Accounts receivable
6,967.00
9,077.00
Accruals
5,749.00
6,071.00
Additional paid in capital
20,385.00 13,468.00
Cash
???
???
Common Stock
2,850
2,850
COGS
22,294.00 18,769.00
Current portion long-term debt
500
500
Depreciation expense
1,002.00
1,036.00
Interest expense
1,260.00
1,146.00
Inventories
3,040.00
6,701.00
Long-term debt
16,696.00 22,094.00
Net fixed assets
75,233.00 74,011.00
Notes payable
4,025.00
6,586.00
Operating expenses (excl. depr.) 19,950
20,000
Retained earnings
35,341.00 34,475.00
Sales
46,360
45,522.00
Тахes
350
920
Expert Solution
Step 1
Net income earned during the year is added to the beginning retained earnings and dividends paid during the year are deducted from the retained earnings in order to determine the ending balance in the retained earnings.
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