Dana-Stallings, Inc., had the following financial statements for 20X1 and 20X2 ASSETS 20X1 Cash $ 53,000 Marketable securities 87,000 Accounts receivable Inventories Current assets Net fixed assets Total LIABILITIES AND EQUITY Accounts payable Accrued expenses Bank borrowings Current liabilities Common stock Retained earnings Total 346,000 432,000 $918,000 1,113,000 $2,031,000 $ 413,000 226,000 100,000 $ 739,000 100,000 1,192,000 $2,031,000 20X2 $ 31,000 0 528,000 683,000 $1,242,000 1,398,000 $2,640,000 $ 627,000 314,000 235,000 $1,176,000 100,000 1,364,000 $2,640,000 Note: For 20X2, depreciation was $189,000; interest paid was $21,000; taxes paid amounted to $114,000; and no dividends were paid. Question 1 Using the information provided prepare a statement of cash flows 20X2 consider (Net profit $ 172000).

Dana-Stallings, Inc., had the following financial statements for 20X1 and 20X2 ASSETS 20X1 Cash $ 53,000 Marketable securities 87,000 Accounts receivable Inventories Current assets Net fixed assets Total LIABILITIES AND EQUITY Accounts payable Accrued expenses Bank borrowings Current liabilities Common stock Retained earnings Total 346,000 432,000 $918,000 1,113,000 $2,031,000 $ 413,000 226,000 100,000 $ 739,000 100,000 1,192,000 $2,031,000 20X2 $ 31,000 0 528,000 683,000 $1,242,000 1,398,000 $2,640,000 $ 627,000 314,000 235,000 $1,176,000 100,000 1,364,000 $2,640,000 Note: For 20X2, depreciation was $189,000; interest paid was $21,000; taxes paid amounted to $114,000; and no dividends were paid. Question 1 Using the information provided prepare a statement of cash flows 20X2 consider (Net profit $ 172000).

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.9P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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