CLANCY'S DOG BISCUIT CORPORATION
Balance Sheet as of December 31, 2024 and 2023
(in millions of dollars)
Assets 2024 2023 Liabilities and Equity 2024 2023
Current assets: Current liabilities:
Cash and marketable securities $ 5 $ 5 Accrued wages and taxes $ 10 $ 6
Accounts receivable 20 19 Accounts payable 16 15
Inventory 36 29 Notes payable 14 13
Total $ 61 $ 53 Total $ 40 $ 34
Fixed assets: Long-term debt: $ 57 $ 53
Gross plant and equipment $ 106 $ 88 Stockholders' equity:
Less: Accumulated depreciation 15 11 Preferred stock (2 million shares) $ 2 $ 2
Net plant and equipment $ 91 $ 77 Common stock and paid-in-surplus (5 million shares) 11 11
Other long-term assets 15 15 Retained earnings 57 45
Total $ 106 $ 92 Total $ 70 $ 58
Total assets $ 167 $ 145 Total liabilities and equity $ 167 $ 145
CLANCY'S DOG BISCUIT CORPORATION
Income Statement for Years Ending December 31, 2024 and 2023
(in millions of dollars)
2024 2023
Net sales $ 76 $ 80
Less: Cost of goods sold 38 35
Gross profits $ 38 $ 45
Less: Other operating expenses 6 5
Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 32 $ 40
Less: Depreciation 4 4
Earnings before interest and taxes (EBIT) $ 28 $ 36
Less: Interest 5 5
Earnings before taxes (EBT) $ 23 $ 31
Less: Taxes 5 7
Net income $ 18 $ 24
Less: Preferred stock dividends $ 1 $1
Net income available to common stockholders $ 17 $ 23
Less: Common stock dividends 5 5
Addition to retained earnings $ 12 $ 18
Per (common) share data:
Earnings per share (EPS) $ 3.40 $ 4.20
Dividends per share (DPS) $ 1.00 $ 1.00
Book value per share (BVPS) $ 13.60 $ 11.20
Market value (price) per share (MVPS) $ 14.25 $ 14.60
Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation.
Note: Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign. Leave no cells
blank- be certain to enter "O" wherever required.
Statement of Cash Flows for Year Ending December 31, 2024
(in millions of dollars)
Cash flows from operating activities
Additions (sources of cash):
Subtractions (uses of cash):
Net cash flow from operating activities
Cash flows from investing activities
