Revenues = $15,369. Cost of Goods Sold $5,114. Depreciation Expense = $2,496, Interest = $537 and Taxes = $555. In addition the company's Receivables increased by $342 and Inventories decreased by $200. The company's Cash Flow from Operations was $.
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- Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.Partial Statement of Cash Flows Service Company had net income during the current year of $65,800. The following information was obtained from Services balance sheet: Accounts receivable $26,540 increase Inventory 32,180 increase Accounts payable 9,300 decrease Interest payable 2,120 increase Accumulated depreciation (Building) 14,590 increase Accumulated depreciation (Equipment) 32,350 increase Additional Information: 1. Equipment with accumulated depreciation of $18,000 was sold during the year. 2. Cash dividends of $29,625 were paid during the year. Required: 1. Prepare the net cash flows from operating activities using the indirect method. 2. CONCEPTUAL CONNECTION How would the cash proceeds from the sale of equipment he reported on the statement of cash flows? 3. CONCEPTUAL CONNECTION How would the cash dividends be reported on the statement of cash flows? 4. CONCEPTUAL CONNECTION What could the difference between net income and cash flow from operating activities signal to financial statement users?
- Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectivelyJuroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.Klein Corporation reports the following summary data for the current year: Sales revenue totaled $130,750. Interest revenue for the period was $1,100. Interest expense for the period was $2,900. Cost of goods sold for the period was $83,000. Operating expenses, all paid in cash (except for depreciation of $7,500), were $24,000. Income tax expense for the period was $6.500. Accounts receivable (net) increased by $5,000 during the period. Accounts payable increased by $2,500 during the period. Inventory at the beginning and end of the period was $17,500 and $12,500, respectively. Cash increased during the period by $2,500. Assume all other current asset and current liability accounts remained constant during the period. Enter your answers as positive numbers. Compute the amount of cash collected from customers. Compute the amount of cash paid for inventory. Compute the amount of cash paid for operating expenses. Compute the amount of cash flows provided by (used in) operations. What…