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- Problem 21-9 (Algo) Cash flows from operating activities (direct method and indirect method)—cash equivalent [LO21-3, 21-4] Skip to question [The following information applies to the questions displayed below.]Portions of the financial statements for Hawkeye Company are provided below. HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $ 950 Cost of goods sold 375 Gross margin 575 Operating expenses: Salaries $ 237 Depreciation 195 Loss on sale of land 14 Total operating expenses 446 Operating income 129 Other income (expense): Gain on sale of cash equivalents 4 Interest expense (45 ) Income before tax 88 Income tax expense 44 Net income $ 44 HAWKEYE COMPANY Selected Accounts from Comparative Balance Sheets December…Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash $ 102,700 $ 52,000 Accounts receivable, net 77,000 59,000 Inventory 71,800 98,500 Prepaid expenses 5,200 7,000 Total current assets 256,700 216,500 Equipment 132,000 123,000 Accumulated depreciation—Equipment (31,000) (13,000) Total assets $ 357,700 $ 326,500 Liabilities and Equity Accounts payable $ 33,000 $ 42,000 Wages payable 6,800 16,600 Income taxes payable 4,200 5,400 Total current liabilities 44,000 64,000 Notes payable (long term) 38,000 68,000 Total liabilities 82,000 132,000 Equity Common stock, $5 par value 236,000 168,000 Retained earnings 39,700 26,500 Total liabilities and equity $ 357,700 $ 326,500 IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Sales…Problem 21-17 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIESComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 405 $ 245 Accounts receivable 350 190 Inventory 500 275 Land 500 450 Building 900 900 Less: Accumulated depreciation (200 ) (180 ) Equipment 2,500 2,150 Less: Accumulated depreciation (325 ) (300 ) Patent 1,000 1,150 $ 5,630 $ 4,880 Liabilities Accounts payable $ 600 $ 400 Accrued liabilities 150 130 Lease liability—land 130 0 Shareholders' Equity Common stock…
- Paragraph Г 12 11 1 2 311 41 567 1 ין Styles 8 9 10 11 12 13 14 15 1 17 18 If $12,000 was generated from operations, $6,000 was used for investing activities, and $4,000 was provided by financing activities, the cash balance would: A. increase by $2,000. B. increase by $14,000. C. increase by $10,000. D. decrease by $20,000.Cash Accounts receivable Equipment, net Land Total assets Current Year $7,440 $4,000 44,000 91,680 $197.120 Percent change Prior Year Required: Compute the annual dollar changes and percent changes for each of the following items $8,000 18,000 40,000 66,000 $132.000 (Use cells A2 to C7 from the given information to complete this question. Decreases should be entered with a minus sign. Round your percentage answers to one decimal place.) Cash Accounts receivable Equipment, net Horizontal Analysis Calculation of Percent Change Numerator: Current Year $7,440 54,000 44,000 Prior Year $8,000 18,000 40,000 Denominator: Dollar Change ChangeSubject - accounting
- Exercise 21-24 (Static) Cash flows from operating activities (indirect method) [LO21-4] Portions of the financial statements for Myriad Products are provided below: MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2024 ($ in millions) Sales $ 660 Cost of goods sold 250 Gross margin 410 Salaries expense $ 110 Depreciation expense 90 Amortization expense 5 Interest expense 20 Loss on sale of land 3 228 Income before taxes 182 Income tax expense 91 Net Income $ 91 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) Year Change 2024 2023 Cash $ 102 $ 100 $ 2 Accounts receivable 220 232 (12) Inventory 440 450 (10) Accounts payable 140 134 6 Salaries payable 80 86 (6) Interest payable 25 20 5 Income tax payable 15 10 5 Required: Prepare the cash flows from the operating activities section of the statement of cash flows…If discretionary expenses are $500, cash flow before discretionary expenses are $2,000, and discretionary capital expenditures are $500, what is the discretionary payout percentage? A. 50% B. 25% C. 20% D. 250%O What is the present value of the following cash flow stream at a rate of 17%? $8,442 $7,304 $9.485 $8,821 $11,762 Years: CFS: 0 $0 1 $1,500 2 $3,000 3 $4,500 4 $6,000
- Exercise 21-31 (Static) Statement of cash flows; indirect method [LO21-4, 21-5, 21-6, 21-8, Appendix 21A] Comparative balance sheets for 2024 and 2023, a statement of income for 2024, and additional information from the accounting records of Red, Incorporated, are provided below: RED, INCORPORATED Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) 2024 2023 Assets Cash $ 24 $ 110 Accounts receivable 178 132 Prepaid insurance 7 3 Inventory 285 175 Buildings and equipment 400 350 Less: Accumulated depreciation (119) (240) $ 775 $ 530 Liabilities Accounts payable $ 87 $ 100 Accrued liabilities 6 11 Notes payable 50 0 Bonds payable 160 0 Shareholders’ Equity Common stock 400 400 Retained earnings 72 19 $ 775 $ 530 RED, INCORPORATED Statement of Income For Year Ended December 31, 2024 ($ in millions) Revenues Sales revenue $ 2,000 Expenses Cost of goods sold $ 1,400…What is the present value of the following cash flow stream at a rate of 6.25%? $411.57 $433.23 $456.03 $480.03 $505.30Can you redo the answer in the following format?