Calculating Cash Flows - Consider the following abbreviated financial statements for Weston Enterprises:
WESTERN ENTERPRISES 2009 and 2010 Partial Balance sheet
WESTERN ENTERPRISES 2010 Income Statement
Assets
Liabilities and Oweners " Equity
Sale
$10,320
2009
2010
Costs
4,980
Current assets
$780
$846
Current Liabilities
$318
$348
Depreciation
$960
Net fixed assets
3,480
4,080
Long - Term debt
1,800
2,064
Interest paid
259
1. What is owners’ equity for 2009 and 2010?
2. What is the change in net working capital for 2010?
3. In 2010, Weston Enterprises purchased $1,800 in new fixed assets. How much in fixed assets did Weston Enterprises sell? What is the cash flow from assets for the year? (The tax rate is 35 percent.)
4. During 2010, Weston Enterprises raised $360 in new long-term debt. How much long-term debt must Weston Enterprises have paid off during the year? What is the cash flow to creditors?
Use the following information for Ingersoll, Inc., for Problems 23 and 24 (assume the tax rate is 34 percent):
$5,223
$5,606
750
751
Cost of goods sold
1,797
2,040
Other Expenses
426
356
Interest
350
402
Cash
2,739
2,085
Account receivable
3,626
4,085
Short - term notes payable
529
947
Long - term debt
9,173
10,702
22,970
23,518
Accont payable
2,877
2,790
Inventory
6,447
6,625
Dividends
637
701
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