You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $98.9 million in current taxes and had an interest expense of $48.9 million. TIME MANUFACTURINGStatement of Cash Flows($ in millions) Operations Net income $ 182.0 Depreciation 94.9 Deferred taxes 19.9 Changes in assets and liabilities Accounts receivable – 18.9 Inventories 22.9 Accounts payable 17.9 Accrued expenses – 9.9 Other 3.9 Total cash flow from operations $ 312.7 Investing activities Acquisition of fixed assets –$ 206.0 Sale of fixed assets 23.9 Total cash flow from investing activities –$ 182.1 Financing activities Retirement of long-term debt –$ 171.0 Proceeds from long-term debt sales 128.0 Dividends – 95.0 Repurchase of stock – 22.0 Proceeds from new stock issue 53.0 Total cash flow from financing activities –$ 107.0 Change in cash (on balance sheet) $ 23.6 1. Calculate the operating cash flow. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.) 2. Calculate the capital spending. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.) 3. Calculate the net working capital cash flow. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.) 4. Calculate the cash flow to creditors. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.) 5. Calculate the cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.)

You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $98.9 million in current taxes and...

You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $98.9 million in current taxes and had an interest expense of $48.9 million.

TIME MANUFACTURING Statement of Cash Flows ($ in millions)
Operations
Net income	$	182.0
Depreciation		94.9
Deferred taxes		19.9
Changes in assets and liabilities
Accounts receivable	–	18.9
Inventories		22.9
Accounts payable		17.9
Accrued expenses	–	9.9
Other		3.9

Total cash flow from operations	$	312.7

Investing activities
Acquisition of fixed assets	–$	206.0
Sale of fixed assets		23.9

Total cash flow from investing activities	–$	182.1

Financing activities
Retirement of long-term debt	–$	171.0
Proceeds from long-term debt sales		128.0
Dividends	–	95.0
Repurchase of stock	–	22.0
Proceeds from new stock issue		53.0

Total cash flow from financing activities	–$	107.0

Change in cash (on balance sheet)	$	23.6

1.	Calculate the operating cash flow. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.)

2.	Calculate the capital spending. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.)

3.	Calculate the net working capital cash flow. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.)

4.	Calculate the cash flow to creditors. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.)

5.	Calculate the cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, for example, 10.2 million would be entered as 10.2.)

Jun 04, 2022

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