Fundamentals of Corporate Finance (Mcgraw-hill/Irwin Series in Finance, Insurance, and Real Estate)
9th Edition
ISBN: 9781259722615
Author: Richard A Brealey, Stewart C Myers, Alan J. Marcus Professor
Publisher: McGraw-Hill Education
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Chapter 19, Problem 6QP
Summary Introduction
To create: A cash flow statement.
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Prepare a complete statement of cash flows for 2014 using the indirect method using the information given.
Prepare the statement of cash flows using the direct method. After which, answer the following questions.
Using the financial data below, prepare a statement of cash flows for the year ended December 31, 2014 for Summer
Peebles, Inc. using the indirect method.
Summer Peebles, Inc.
Income Statement Year Ending December 31,
2014
Sales
Cost of Goods Sold
Depreciation Expense
Sales and General Expense
Interest Expense
Income Tax Expense
Net Income
Assets
Cash
Accounts Receivable, Net
Inventory
Current Assets
Fixed Assets, Net
Summer Peebles, Inc.
Balance Sheets as of December 31, 2013 and 2014
Total Assets
Liabilities and Equity
Notes Payable to Banks
Accounts Payable
Interest Payable
Current Liabilities
Long-Term Debt
Deferred Income Tax
$1,000.00
Capital Stock
-$650.00
-$100.00
-$100.00
-$50.00
-$40.00
$60.00
2013
$50.00
$500.00
$750.00
$1,300.00
$500.00
$1,800.00
$100.00
$590.00
$10.00
$700.00
$300.00
$300.00
$400.00
2014
$60.00
$520.00
$770.00
$1,350.00
$550.00
$1,900.00
$75.00
$615.00
$20.00
$710.00
$350.00
$310.00
$400.00
Chapter 19 Solutions
Fundamentals of Corporate Finance (Mcgraw-hill/Irwin Series in Finance, Insurance, and Real Estate)
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- Use the following excerpts from Zowleski Companys financial information to prepare a statement of cash flows (indirect method) for the year 2018.arrow_forwardUse the following excerpts from Franklin Companys statement of cash flows and other financial records to determine the companys free cash flow for 2018 and 2017.arrow_forwardUse the following excerpts from Bolognese Companys statement of cash flows and other financial records to determine the companys free cash flow for 2018 and 2017.arrow_forward
- Use a spreadsheet and the following financial information from Mineola Companys financial statements to build a template that automatically calculates the net operating cash flow. It should be suitable for use in preparing the operating section of the statement of cash flows (indirect method) for the year 2018.arrow_forwardUse the following excerpts from Jasper Companys financial statements to determine cash paid to suppliers for inventory in 2018.arrow_forwardUse the following excerpts from Swansea Companys financial information to prepare the operating section of the statement of cash flows (direct method) for the year 2018.arrow_forward
- Use the following excerpts from Fruitcake Companys financial records to determine net cash flows from investing activities.arrow_forwardUse the following excerpts from Eagle Companys financial records to determine net cash flows from financing activities.arrow_forwardConsider the financial statements alongside the notes presented by Simple Things Industries and prepare the statement of cash flows for the year ended December 31, 2014. Assets Current: Cash Accounts Receivable Inventory Plant assets, net Total Assets Liabilities Current: Accounts payable Accrued liabilities Long-term notes payable Stockholders' Equity Common S tock Retained earnings Treasury stock Total liabilities and stockholders' equity Revenues and gains: Sales revenue Interest revenue Dividend revenue Gain on sale of plant assets Total revenues and gains Simple Things Industries Ltd. Comparative Balance Sheet December 31, 2014 and 2013 Expenses Cost of goods sold Salary and wages expense Depreciation expense Other operating expense Interest expense Income tax expense Total expenses Net Income/(Loss) Simple Things Industries Ltd Income Statement Year Ended December 31,2014 Notes Acquisition of plant asset during 2014 Sale proceeds from sale of plant asset Receipt for issuance of…arrow_forward
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