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Prepare a cash flow statement for the following information.Include a cash reconciliation statement.

05 / 03 / 2018 Assignment

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Prepare a cash flow statement for the following information.

b. Include a cash reconciliation statement.

Balance Sheet ($)

Jan 1 Dec 31

ASSETS:

Current Assets:

Cash 310,000 600,000

Marketable Securities 1,200,000 1,000,000

Accounts Receivable, net 290,000 330,000

Inventory 3,000,000 4,000,000

Prepaid Expenses 200,000 300,000

Total Current Assets 5,000,000 6,230,000

Total Fixed Assets, net 2,500,000 2,000,000

Total Assets 7,500,000 8,230,000

LIABILITIES & EQUITIES

Current Liabilities:

Accounts Payable 1,500,000 1,000,000

Notes Payable 1,000,000 1,000,000

Accrued Expenses 500,000 800,000

Total Current Liabilities 3,000,000 2,800,000

Total Long-term Liabilities 1,000,000 1,500,000

Total Liabilities 4,000,000 4,300,000

Preferred Stock 500,000 500,000

Common Stock 500,000 500,000

Capital in Excess of Par 1,000,000 1,000,000

Retained Earnings 1,500,000 1,930,000

Total Stockholders Equity 3,500,000 3,930,000

Total Liabilities and Equity 7,500,000 8,230,000

Income Statement (for ques 6, problem 5)

Sales 10,000,000

COGS 6,000,000

Gross Profit 4,000,000

Administrative expenses 1,200,000

Depreciation 500,000

EBIT 2,300,000

Interest Expense 500,000

EBT 1,800,000

Taxes (40%) 720,000

Net Income 1,080,000



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