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Problem 3-32 Working Capital (LO1) The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2021 $ 4,800 1,800 530 250 440 160 560 300 420 Net working capital 5,800 2,800 700 370 810 2022 $ 4,900 1,900 550 310 490 160 580 360 490 Taxes are paid in their entirety in the year that the tax obligation is incurred. 6,500 3,150 510 370 490 † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) by

Problem 3-32 Working Capital (LO1) The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2021 $ 4,800 1,800 530 250 440 160 560 300 420 Net working capital 5,800 2,800 700 370 810 2022 $ 4,900 1,900 550 310 490 160 580 360 490 Taxes are paid in their entirety in the year that the tax obligation is incurred. 6,500 3,150 510 370 490 † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) by

Financial Reporting, Financial Statement Analysis and Valuation
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter3: Income Flows Versus Cash Flows: Understanding The Statement Of Cash Flow
Section: Chapter Questions
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Problem 3-32 Working Capital (LO1) The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2021 $ 4,800 1,800 530 250 440 160 560 300 420 Net working capital 5,800 2,800 700 370 810 2022 $ 4,900 1,900 550 310 490 160 580 360 490 Taxes are paid in their entirety in the year that the tax obligation is incurred. 6,500 3,150 510 370 490 † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) by

 

 

Problem 3-32 Working Capital (LO1) The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net working capital 2021 $ 4,800 1,800 530 250 440 160 560 300 420 decreased Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities *Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) 5,800 2,800 700 370 810 2022 $ 4,900 1,900 by 550 310 490 160 580 360 490 6,500 3,150 510 370 490
Transcribed Image Text:Problem 3-32 Working Capital (LO1) The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net working capital 2021 $ 4,800 1,800 530 250 440 160 560 300 420 decreased Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities *Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) 5,800 2,800 700 370 810 2022 $ 4,900 1,900 by 550 310 490 160 580 360 490 6,500 3,150 510 370 490
Problem 3-32 Working Capital (LO1) The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable. Accounts receivable. Net fixed assets Long-term debt 2022 2021 $4,800 $ 4,900 1,800 1,900 530 250 440 160 560 300 420 Net working capital 5,800 2,800 700 370 810 550 310 490 160 580 360 490 Notes payable Dividends paid Cash and marketable securities *Taxes are paid in their entirety in the year that the tax obligation is incurred. 6,500 3,150 510 370 490 Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) by
Transcribed Image Text:Problem 3-32 Working Capital (LO1) The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable. Accounts receivable. Net fixed assets Long-term debt 2022 2021 $4,800 $ 4,900 1,800 1,900 530 250 440 160 560 300 420 Net working capital 5,800 2,800 700 370 810 550 310 490 160 580 360 490 Notes payable Dividends paid Cash and marketable securities *Taxes are paid in their entirety in the year that the tax obligation is incurred. 6,500 3,150 510 370 490 Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) by
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