Question

1) Slushy, Inc. reported $75,000 of income in 2017 and paid 1/3 of this out as...

1) Slushy, Inc. reported $75,000 of income in 2017 and paid 1/3 of this out as dividends to shareholders. Beginning of year retained earnings where 250,000. What retained earnings did Slushy report at the end of the year?

2) Slushy, Inc. reported $34,500 in AP at the end of 2017 and $37,000 at the end of 2016.What is the cash flow associated with this change? Please input a cash outflow as a negative value and a cash inflow as a positive value.

3) Slushy, Inc. reported $325,000 of PP&E(net) at the end of 2016. The firm recorded depreciation expense of  $45,000 during 2017 and spent $100,000 on capital expenditures. What ending balance of PP&E(net) in 2017?

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Answer #1
Retained earnings
Beginning balance        250,000
Net Income           75,000
Dividend         (25,000)
Year end balance        300,000
AP
Beginning balance           37,000
Year end balance           34,500
Cash outflow           (2,500)
PP&E
Beginning balance        325,000
New Investment        100,000
Less Depreciation         (45,000)
Year end balance        380,000
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