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Category > Accounting Posted 15 May 2017 My Price 10.00

THE MANN CORPORATION Consolidated Balance Sheets

Statement of Cash Flow
Presented below are the consolidated financial statements of The Mann Corporation as of year-end 2012 and 2013.

THE MANN CORPORATION
Consolidated Balance Sheets
As of Year-End ($ thousands) 2013 2012
Assets
Current assets
Cash $400,000 $250,000
Accounts receivable (net) 990,000 760,000
Inventory 710,000 400,000
Prepaid expenses 100,000 100,000
Total current assets 2,200,000 1,510,000
Investments in affiliate companies 100,000 -
Property and equipment 1,310,000 800,000
Less: Accumulated depreciation (110,000) (80,000)
Property & equipment (net) 1,200,000 720,000
Total assets $3,500,000 $2,230,000
Liabilities & ShareholdersAc€?c Equity
Current liabilities
Accounts payable $570,000 $500,000
Accrued expenses payable 200,000 220,000
Dividends payable 70,000 -
Total current liabilities 840,000 720,000
Note payableAc€??due in ten years 500,000 -
Total liabilities 1,340,000 720,000
ShareholdersAc€?c equity
Common stock, $5 par value 300,000 200,000
Additional paid-in-capital 1,200,000 1,160,000
Retained earnings 660,000 150,000
Total shareholdersAc€?c equity 2,160,000 1,510,000
Total liabilities & shareholdersAc€?c equity $3,500,000 $2,230,000
THE MANN CORPORATION
Consolidated Income Statement
For Year Ended ($ thousands) 2013 2012
Sales $16,800,0000 $12,000,000
Cost of goods sold 14,000,000 10,400,000
Gross margin 2,800,000 1,600,000
Selling & administrative expenses 1,930,000 1,048,000
Depreciation expense 30,000 20,000
Income tax expense 240,000 152,000
Net income $600,000 $380,000

Required

 

Using the above financial data, prepare the statement of cash flow for 2013 using the indirect method.

Answers

Alpha Geek
(8)
Status NEW Posted 15 May 2017 04:05 PM My Price 10.00

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file 1494864561-Answer.docx preview (244 words )
S-----------tat-----------eme-----------nt -----------of -----------Cas-----------h F-----------low-----------Pre-----------sen-----------ted----------- be-----------low----------- ar-----------e t-----------he -----------con-----------sol-----------ida-----------ted----------- fi-----------nan-----------cia-----------l s-----------tat-----------eme-----------nts----------- of----------- Th-----------e M-----------ann----------- Co-----------rpo-----------rat-----------ion----------- as----------- of----------- ye-----------ar------------end----------- 20-----------12 -----------and----------- 20-----------13.----------- T-----------HE -----------MAN-----------N C-----------ORP-----------ORA-----------TIO-----------NCo-----------nso-----------lid-----------ate-----------d B-----------ala-----------nce----------- Sh-----------eet-----------s -----------As -----------of -----------Yea-----------r-E-----------nd -----------($ -----------tho-----------usa-----------nds-----------) 2-----------013----------- 20-----------12 ----------- As-----------set-----------s -----------Cur-----------ren-----------t a-----------sse-----------ts ----------- Ca-----------sh -----------$40-----------0,0-----------00 -----------$25-----------0,0-----------00 ----------- Ac-----------cou-----------nts----------- re-----------cei-----------vab-----------le -----------(ne-----------t) -----------990-----------,00-----------0 7-----------60,-----------000----------- I-----------nve-----------nto-----------ry -----------710-----------,00-----------0 4-----------00,-----------000----------- P-----------rep-----------aid----------- ex-----------pen-----------ses----------- 10-----------0,0-----------00 -----------100-----------,00-----------0 -----------Tot-----------al -----------cur-----------ren-----------t a-----------sse-----------ts -----------2,2-----------00,-----------000----------- 1,-----------510-----------,00-----------0 -----------Inv-----------est-----------men-----------ts -----------in
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