Assignment
Using the data provided, prepare a completeStatement of Cash Flows using both the direct methodandthe indirect methodof summarizing the cash flow from operating activities.
Note that to complete the assignment you will need to calculate items such as dividends paid (Retained Earnings2015 + Net income2016 - Retained Earnings2016 = Dividends paid2016), and capital expenditures (Net Fixed Assets2015 - Net Book Value of Fixed Assets Sold2016 - Depreciation Expense2016- Net Fixed Assets2016 = Capital expenditures made2016.
Please submit your work via the assignment submission feature in Blackboard.
|
Assets
|
2015
|
2016
|
|
|
2016
|
|
Cash
|
$15,525
|
$18,931
|
|
Sales
|
$969,236
|
|
Marketable securities
|
8,711
|
12,533
|
|
Less: Cost of goods sold
|
785,772
|
|
Accounts receivable
|
97,236
|
100,818
|
|
Gross profit
|
183,464
|
|
Inventories
|
211,820
|
200,864
|
|
Less: Cash operating expenses
|
108,707
|
|
Other current assets
|
12,798
|
12,138
|
|
Depreciation expense
|
35,337
|
|
Total current assets
|
346,090
|
345,284
|
|
Amortization expense
|
2,314
|
|
Gross fixed assets
|
833,835
|
861,267
|
|
Operating income (EBIT)
|
37,106
|
|
Less: Accumulated depreciation
|
570,206
|
608,636
|
|
Less: Interest expense
|
1,790
|
|
Net fixed assets
|
263,629
|
252,631
|
|
Plus: Interest income
|
0
|
|
Equity method investments
|
6,774
|
6,864
|
|
Other nonoperating income
|
203
|
|
Other long-term investments
|
18,969
|
32,769
|
|
Income from equity investments
|
90
|
|
Goodwill
|
86,726
|
86,726
|
|
Loss on sale of fixed assets
|
(424)
|
|
Other intangible assets
|
13,389
|
11,075
|
|
Earnings before taxes
|
35,185
|
|
Other noncurrent assets
|
6,716
|
15,950
|
|
Tax expense
|
9,124
|
|
Total assets
|
$742,293
|
$751,299
|
|
Net income
|
$26,061
|
|
|
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
|
|
Current portion of long-term debt
|
2,345
|
2,559
|
|
|
|
Short-term debt (notes payable)
|
5,332
|
1,588
|
|
|
|
Accounts payable
|
31,888
|
32,524
|
|
|
|
|
Taxes payable
|
2,373
|
4,781
|
|
|
|
|
Accrued expenses
|
27,466
|
29,874
|
|
|
|
|
Deferred revenue
|
3,695
|
1,105
|
|
|
|
|
Other current liabilities
|
22,035
|
21,347
|
|
|
|
|
Total current liabilities
|
95,134
|
93,778
|
|
|
|
|
Long-term debt
|
47,893
|
48,369
|
|
|
|
|
Deferred income taxes
|
17,835
|
17,579
|
|
|
|
|
Other noncurrent liabilities
|
98,474
|
97,484
|
|
|
|
|
Total liabilities
|
259,336
|
257,210
|
|
|
|
|
Common stock and paid-in capital
|
208,967
|
212,701
|
|
|
|
|
Retained earnings
|
499,659
|
517,903
|
|
|
|
|
Accum. other comp. income
|
(77,110)
|
(82,116)
|
|
|
|
|
Less: Treasury stock
|
148,559
|
154,399
|
|
|
|
|
Total equity
|
482,957
|
494,089
|
|
|
|
|
Total liabilities and equity
|
$742,293
|
$751,299
|
|
|
|
Footnote
During the year, the company received cash of $6,338 when itsold fixed assets listed with a net book value of $6,762, which gave rise to the $424 loss that appears on the income statement.
When determining the amount of dividends paid, please include the amounts of accumulated other comprehensive income as adjustments to the amount retained earnings for each year.
Note: Check figure for cash flow from operations = $63,774. Note also that there are 16items used to arrive at that amount under the indirect method.
Attachment:- Assignment-data.rar