Construct a 2011 cash flow statement for this firm

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Reference no: EM13569175

Cash flows: Analysts following the Tomkovick Golf Company were given the following balance sheet information for the years ended June 30, 2011 and June 30, 2010:

Assets

2011

2010

Cash and marketable securities

$33,411

$16,566

Accounts receivable

260,205

318,768

Inventory

423,819

352,740

Other current assets

41,251

29,912

Total current assets

$758,686

$717,986

Plant and equipment

1,931,719

1,609,898

Less: Accumulated depreciation

(419,044)

(206,678)

Net plant and equipment

$1,512,675

$1,403,220

Goodwill and other assets

382,145

412,565

Total assets

$2,653,506

$2,533,771

Liabilities and Equity

2011

2010

Accounts payable and accruals

$378,236

$332,004

Notes payable

14,487

7,862

Accrued income taxes

21,125

16,815

Total current liabilities

$413,848

$356,681

Long-term debt

679,981

793,515

Total liabilities

$1,093,829

$1,150,196

Preferred stock

-

-

Common stock (10,000 shares)

10,000

10,000

Additional paid-in capital

975,465

975,465

Retained earnings

587,546

398,110

Less: Treasury stock

13,334


Total common equity

$1,559,677

$1,383,575

Total liabilities and equity

$2,653,506

$2,533,771

In addition, it was reported that the company had a net income of $3,155,848 and that depreciation expenses were equal to $212,366 during 2011.

  1. Construct a 2011 cash flow statement for this firm.
  2. Calculate the net cash provided by operating activities for the statement of cash flows.
  3. What is the net cash used in investing activities?
  4. Compute the net cash provided by financing activities.

Reference no: EM13569175

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