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Category > Accounting Posted 27 Sep 2017 My Price 10.00

Tomkovick Golf Company

Cash flows: Analysts following the Tomkovick Golf Company were given the following balance sheet information for the years ended June 30, 2011 and June 30, 2010:

Assets	2011	2010
Cash and marketable securities	$33,411	$16,566
Accounts receivable	260,205	318,768
Inventory	423,819	352,740
Other current assets	41,251	29,912
Total current assets	$758,686	$717,986
Plant and equipment	1,931,719	1,609,898
Less: Accumulated depreciation	(419,044)	(206,678)
Net plant and equipment	$1,512,675	$1,403,220
Goodwill and other assets	382,145	412,565
Total assets	$2,653,506	$2,533,771
Liabilities and Equity	2011	2010
Accounts payable and accruals	$378,236	$332,004
Notes payable	14,487	7,862
Accrued income taxes	21,125	16,815
Total current liabilities	$413,848	$356,681
Long-term debt	679,981	793,515
Total liabilities	$1,093,829	$1,150,196
Preferred stock	—	—
Common stock (10,000 shares)	10,000	10,000
Additional paid-in capital	975,465	975,465
Retained earnings	587,546	398,110
Less: Treasury stock	13,334
Total common equity	$1,559,677	$1,383,575
Total liabilities and equity	$2,653,506	$2,533,771

In addition, it was reported that the company had a net income of $3,155,848 and that depreciation expenses were equal to $212,366 during 2011.

Construct a 2011 cash flow statement for this firm.
Calculate the net cash provided by operating activities for the statement of cash flows.

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Maurice Tutor

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Status NEW Posted 27 Sep 2017 08:09 PM My Price 10.00

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