Find the cash flow from assets - partial income statement, Financial Management

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Partial Income Statement Year Ending 2011

Sales Revenue                $350,000

COGS                            $140,000

Fixed Costs                     $ 43,000

SG&A Expenses             $ 28,000

Depreciation                    $ 46,000

Partial Balance Sheet 12/31/2010

Assets:                                                             Liabilities:

            Cash                          $ 16,000                        Notes Payable           $ 14,000

            Accounts Rec.           $ 28,000                        Accounts Payable     $ 19,000

            Inventories                $ 48,000                        Long-Term Debt      $190,000

            Fixed Assets            $368,000            Owners' Equity:

            Acc. Depreciation    $142,000                        Retained Earnings   $ ???????

            Intangible Assets      $ 82,000                        Common Stock        $130,000

Partial Balance Sheet 12/31/2011

                          Assets:                                                             Liabilities:

            Cash                          $ 26,000                        Notes Payable           $ 12,000

            Accounts Rec.           $ 19,000                        Accounts Payable     $ 24,000

            Inventories                $ 53,000                        Long-Term Debt      $162,000

            Fixed Assets            $448,000            Owners' Equity:

            Acc. Depreciation    $ ???????                        Retained Earnings     $ ??????

            Intangible Assets      $ 82,000                        Common Stock        $180,000

 

1.Complete the partial income statement if the company paid interest expense of $18,000 for 2011 and had an overall tax rate of 40% for 2011.

2.Complete the balance sheet (Hint, find accumulated depreciation for 2011 first).

3.Find the cash flow from assets for 2011 and break it down into its three parts: operating cash flow, capital spending, and change in net working capital.


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