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1. Balance Sheet Income Statement 2013 2014 Cash 18,187 27,477 Sales 247,259 301,392 A/R 12,887 16,717 CGS 126,038 159,143 Inventory 27,119 37,216 Gross profit 121,221 142,249 Net FA 156,975 191,250 Selling &Admin exp. 24,787 32,352 Total assets 215,168 272,661 Depreciation 35,581 40,217 EBIT 60,853 69,680 A/P 32,143 36,404 Interest 7,735 8,866 N/P 14,651 15,997 EBT 53,118 60,814 L-T debt 79,235 91,195 Tax (20%) ? Equity 89,139 129,065 NI Total L+OE BH currently pays out 50 percent of net income as dividends to original investors. The firm is in a 20 percent tax bracket. Please prepare Cash flow statement of the company.
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Solution Tax 10,624 12,163 NI 42,494 48,651
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Operating activities Cash balance (beginning of 2014) 18,187 Operating
18,187 Operating NI 48,651 Depre 40,217 Ch in AR -3830 Ch in Inv -10,097 Ch in AP 4261 CFO 79,202
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Investing activities Investing Ch in FA (34, ) CFI -74,492
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Financing Activities Financing Ch in N/P 1346 Ch in LTD 11,960
Ch in N/P 1346 Ch in LTD 11,960 Ch in Equity 15,600 Div paid -24,326 CFF 4580
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Operating Activities+ Investing Activities+ Financing Activities
= Net Cash change during a year Ending cash balance.
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Cash balance (beginning of 2014)
18,187 Operating NI 48,651 Depre 40,217 Ch in AR -3830 Ch in Inv -10,097 Ch in AP 4261 CFO 79,202 Investing Ch in FA (34, ) CFI -74,492 Financing Ch in N/P 1346 Ch in LTD 11,960 Ch in Equity 15,600 Div paid -24,326 CFF 4580 Net change 9,290 Cash balance (ending of 2014) 27,477
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