Using the financial statements for Luckyspot Corp, create a Statement of Cash Flows in the space below. Be sure I can easily read your answers.
Balance Sheet |
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Luckyspot Corp |
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For period ending 12/31/14' |
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ASSETS |
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12/31/2013 |
12/31/2014 |
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| Cash |
$ 955 |
$ 980 |
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| Receivables |
$3,103 |
$3,570 |
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| Inventory |
$2,890 |
$3,033 |
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| CURRENT ASSETS |
$6,948 |
$7,583 |
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| Fixed Assets |
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| Gross |
$5,800 |
$6,650 |
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| Accum Dep |
($1,150) |
($1,750) |
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| Net |
$4,650 |
$4,900 |
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| Total Assets |
$11,598 |
$12,483 |
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LIABILITIES and EQUITY |
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| Accts Payable |
$1,860 |
$1,650 |
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| Accurals |
$385 |
$742 |
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| CURRENT LIABILITIES |
$2,245 |
$2,392 |
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| Long-term Debt |
$7,805 |
$7,891 |
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| Equity |
$1,548 |
$2,200 |
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| TOTAL CAPITAL |
$9,353 |
$10,091 |
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| TOTAL LIABILITES |
$11,598 |
$12,483 |
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| and EQUITY |
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Income Statement |
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Luckyspot Corp |
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For period ending 12/31/14 |
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| Revenue |
$17,850 |
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| COGS |
$9,100 |
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| Gross Margin |
$8,750 |
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| Expenses |
$5,780 |
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| EBIT |
$2,970 |
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| Interest |
$800 |
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| EBT |
$2,170 |
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| Tax |
$868 |
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| NET INCOME |
$1,302 |
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ALL FIGURES are in $1,000's. Divdends of $650 were paid out and no stock was sold. OMIT the three zeros in your values.
Answer the following:
A. What is the amount of the Change in Current Account?
B. What is the amount of the Change in Operating Activities?
C. What is the amount of the Change in Investing Activities?
D. What is the amount of the Change in Financing Activities?
E. What is the amount of the Net Cash Flow?
F. Show your reconcilation calculation.