Long Question Steps Required Kuipers, Inc. 2018 statement of comprehensive income ($ in millions) Net sales $1,384 Less: Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid 80 Taxable income 519 Less: Taxes 156 Net income $363 Addition to retained earnings $254 Dividends paid 109 Kuipers, Inc. 2017 and 2018 Statement of financial positions ($ in millions) 2017 2018 2017 2018 Cash $100 $121 Accounts payable $400 $350 Accounts rec. 350 425 Notes payable 390 370 Inventory 440 410 Total $790 $720 Total $890 $956 Long-term debt 500 550 Net fixed assets 1,556 1,704 Owner's equity Common stock 600 580 Retained 556 810 earnings Total 1,156 1,390 Total assets $2,446 $2,660 Total liabilities $2,446 $2,660 Calculate CFFA for year 2018 using any one method of your choice.

Long Question Steps Required Kuipers, Inc. 2018 statement of comprehensive income ($ in millions) Net sales $1,384 Less: Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid 80 Taxable income 519 Less: Taxes 156 Net income $363 Addition to retained earnings $254 Dividends paid 109 Kuipers, Inc. 2017 and 2018 Statement of financial positions ($ in millions) 2017 2018 2017 2018 Cash $100 $121 Accounts payable $400 $350 Accounts rec. 350 425 Notes payable 390 370 Inventory 440 410 Total $790 $720 Total $890 $956 Long-term debt 500 550 Net fixed assets 1,556 1,704 Owner's equity Common stock 600 580 Retained 556 810 earnings Total 1,156 1,390 Total assets $2,446 $2,660 Total liabilities $2,446 $2,660 Calculate CFFA for year 2018 using any one method of your choice.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 86PSB

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