Accounting statements and cash flows

Accounting statements and cash flows - Sample Problems...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Sample Problems Accounting Statements and Cash Flows 1. Use the following to income statement and balance sheet to determine Cash Flows from Operating Activities for Marble Comics for 2002. Marble Comics Group Balance Sheet for Year Ending 2001 and 2002 ($ in millions) 2001 2002 2001 2002 Cash $ 75 $ 135 Accounts payable $ 89 $110 Accounts receivable 230 214 Notes payable 227 442 Inventory 240 188 Current liabilities 316 552 Current assets 545 537 Long-term debt 615 440 Fixed assets 788 890 Common stock 55 55 Retained earnings 347 380 Total assets $1,333 $1,427 Total liab.& equity $1,333 $1,427 Marble Comics Group 2002 Income Statement ($ in millions) Sales $905 Cost of goods sold -615 Depreciation -110 Earnings before interest and taxes 180 Interest paid - 61 Taxable income 119 Taxes -30 Net income $ 89 2. Use the following balance sheet and income statement for Paglia Pasta to determine Cash Flows from Operating Activities for 2005. Paglia Pasta, Inc.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Accounting statements and cash flows - Sample Problems...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online