Question

Category Prior Year Current Year Accounts payable 3,143.00 5,999.00 Accounts receivable 6,805.00 8,996.00 Accruals 5,710.00 6,138.00...

Category Prior Year Current Year
Accounts payable 3,143.00 5,999.00
Accounts receivable 6,805.00 8,996.00
Accruals 5,710.00 6,138.00
Additional paid in capital 20,371.00 13,224.00
Cash ??? ???
Common Stock 2,850 2,850
COGS 22,123.00 18,189.00
Current portion long-term debt 500 500
Depreciation expense 1,012.00 1,050.00
Interest expense 1,256.00 1,144.00
Inventories 3,007.00 6,721.00
Long-term debt 16,515.00 22,873.00
Net fixed assets 75,718.00 74,282.00
Notes payable 4,076.00 6,543.00
Operating expenses (excl. depr.) 19,950 20,000
Retained earnings 35,148.00 34,583.00
Sales 46,360 45,869.00
Taxes 350 920

What is the firm's cash flow from financing?

The correct answer is -3453. Was wondering how they got this answer.

Business   Accounting   
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Answer #1

we will first find Net income

sales $45,869
less COGS $18,189
operating expenses $20,000
depreciation $1,050
interest $1,144
tax $920
net income $4,566[$45,869-18,189-20,000-1,050-1,144-920]

we will now find dividend paid

=retained earnings proir year+nt income for year-retained earning current year

=$35,148+$4,566-$34,583

=$5,131

cash flow from financing

borrowed by Long term debt [$22,873-$16,515] $6,358
borrowed by notes payable [$6,543-$4,076] $2,467
additional paid in capital used [$20,371-$13,224] -$7,147
dividend paid -$5,131
Net cash flow used by financing activites -$3,453 [$6,358+$2,467-$7,147-$5,131]
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