Net sales winaswept, inc. 2017 Income Statement ($ in millions) Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $10,800 8,100 385 $ 2,315 106 $ 2,209 663 $ 1,546 Cash Accounts rec. Inventory Total Net fixed assets Total assets Windswept, Inc. 2016 and 2017 Balance Sheets 2016 ($ in millions) 2017 $ 400 $ 425 1,170 1,070 1,940 1,800 Accounts payable Long-term debt Common stock $3,510 $3,295 Retained earnings 3,690 4,290 $7,200 $7,585 Total liab. equity What were the total dividends paid for 2017? 2016 2017 $2,000 $1,925 1,100 1,560 3,420 680 3,170 930 $7,200 $7,585
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2016 2017 Current Assets Cash $115,000 $99,000 Accounts Receivable $105,000 $89,000 Inventory $154,000 $172,000 Prepaid Expense $27,000 $21,000 Total Current Assets $401,000 $381,000 Current Liabilities Accrued Expenses Payable $15,000 $5,000 Accounts Payable $85,000 $93,000 Total Current Liabilities $100,000 $98,000 The current sections of Donny Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Donny's net income for 2017 was $203,000. Depreciation expense was $25,000. Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method. Use parentheses for deductions.
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Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales: $5,770 Cost of goods sold: $4,070 Depreciation: $420 Earnings before interest and taxes: $1,280 Interest paid: $30 Taxable income: $1,250 Taxes: $438 Net income: $812 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 Cash: $65 $170 Accounts payable: $1,330 $1,220 Accounts receivable: $980 $830 Long-term debt: $720 $520 Inventory: $1,490 $1,970 Common stock: $3,105 $3,278 Total: $2,535 $2,970 Retained earnings: $920 $1,232 Net fixed assets: $3,540 $3,280 Total assets: $6,075 $6,250 Total liabilities & equity: $6,075 $6,250 How many dollars of sales were generated from every dollar of fixed assets during 2017? Multiple Choice: a) $0.92 b) $1.63 c) $1.69 d) $1.76 e) $0.95
For Year 2016, Precision Masters had sales of $42,900, cost of goods sold of $26,800, depreciation expense of $1,900, interest expense of $1,300, and dividends paid of $1,000. At the beginning of the year, net fixed assets were $14,300, current assets were $8,700, and current liabilities were $6,600. At the end of the year, net fixed assets were $13,900, current assets were $9,200, and current liabilities were $7,400. The tax rate was 34 percent. What is the cash flow from assets for 2016?
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