Create a statement of cash flows

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Reference no: EM132043134

Using the financial statements for Luckyspot Corp, create a Statement of Cash Flows in the space below. Be sure I can easily read your answers.


Balance Sheet



Luckyspot Corp


For period ending 12/31/14'






ASSETS



12/31/2013 12/31/2014

Cash $            955 $            980

Receivables $3,103 $3,570

Inventory $2,890 $3,033

CURRENT ASSETS $6,948 $7,583






Fixed Assets



Gross $5,800 $6,650

Accum Dep ($1,150) ($1,750)

Net $4,650 $4,900






Total Assets $11,598 $12,483







LIABILITIES and EQUITY

Accts Payable $1,860 $1,650

Accurals $385 $742

CURRENT LIABILITIES $2,245 $2,392






Long-term Debt $7,805 $7,891

Equity $1,548 $2,200

TOTAL CAPITAL $9,353 $10,091






TOTAL LIABILITES $11,598 $12,483

and EQUITY









Income Statement


Luckyspot Corp


For period ending 12/31/14





Revenue $17,850


COGS $9,100


Gross Margin $8,750


Expenses $5,780


EBIT $2,970


Interest $800


EBT $2,170


Tax $868


NET INCOME $1,302


ALL FIGURES are in $1,000's. Divdends of $650 were paid out and no stock was sold. OMIT the three zeros in your values.

Answer the following:

A. What is the amount of the Change in Current Account?

B. What is the amount of the Change in Operating Activities?

C. What is the amount of the Change in Investing Activities?

D. What is the amount of the Change in Financing Activities?

E. What is the amount of the Net Cash Flow?

F. Show your reconcilation calculation.

Reference no: EM132043134

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