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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

Q1) The financial statements for ACME Corporation is given below, and suppose that ACME paid common dividend of \$45,000 in 2004, determine the company's financing cash flow for 2004?

Income Statement Balance Sheet
Year Ended 12/31/04 12/31/04 12/31/03

Sales \$1,500,000 Current Assets \$50,000 \$35,000
Cost of Goods Sold 700,000 (Gross Fixed Assets 1,100,000 750,000)
Operating Expenses 400,000 Net Fixed Assets \$450,000 \$300,000
Depreciation 200,000 Total Assets \$500,000 \$335,000
EBIT 200,000 Current Liabilities \$25,000 \$30,000
Interest Expense 50,000 Long-term Debt 340,000 230,000
EBT 150,000 Common Stock 5,000 5,000
Taxes 45,000 Retained Earnings 130,00070,000
Net Income \$ 105,000 Total Liab & Equity \$500,000 \$335,000

a. \$15,000
b. \$55,000
c. \$110,000
d. -\$95,000

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M922494

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