FINANCIAL ACCOUNTING-TEXT
FINANCIAL ACCOUNTING-TEXT
6th Edition
ISBN: 2810023103767
Author: DYCKMAN
Publisher: CAMB BUS
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Chapter 4, Problem 52P

a

To determine

Calculate the changes in cash and cash equivalents occurred during 2018.

b

To determine

Prepare a cash flow statement for the year 2018.

c

To determine

Prepare a schedule that showing cash paid for interest and income tax, and schedule for non-cash investing and financing activities.

d

To determine

Calculate the operating cash flow to current liabilities ratio, operating cash flow to capital expenditure ratio and free cash flow.

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Financing Deficit Stevens Textile Corporation's 2019 financial statements are shown below: Just need the correct LOC? Balance Sheet as of December 31, 2019 (Thousands of Dollars) Cash $ 1,080   Accounts payable $ 4,320 Receivables 6,480   Accruals 2,880 Inventories 9,000   Line of credit 0    Total current assets $16,560   Notes payable 2,100 Net fixed assets 12,600      Total current liabilities $ 9,300       Mortgage bonds 3,500       Common stock 3,500       Retained earnings 12,860    Total assets $29,160      Total liabilities and equity $29,160 Income Statement for December 31, 2019 (Thousands of Dollars) Sales $36,000 Operating costs 34,000    Earnings before interest and taxes $ 2,000 Interest 160    Pre-tax earnings $ 1,840 Taxes (25%) 460 Net income $ 1,380 Dividends (40%) $    552 Addition to retained earnings $ 828 Stevens grew rapidly in 2019 and financed the growth with notes payable and long-term bonds. Stevens expects sales to…
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FINANCIAL ACCOUNTING-TEXT

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