Hello, I need help completing a statement of cash flows & ratio excel sheet for my assignment that is due in a couple of hours. (6 pm cst) The highlighted grey part is what needs to be completed (on both tabs).
Flows
Using the following income statement and additional year end information, prepare the operating activities section of the statement of cash flows using the direct method. Use Exhibit 16B.6 on page 591 of the textbook as a guide. | |||||
SONAD COMPANY | Selected Year-End | Balance Sheet | |||
Income Statement | Accounts Receivable | 30,500 | increase | ||
For Year Ended December 31, 2019 | Inventory | 25,000 | |||
Accounts Payable | 12,500 | decrease | |||
Sales | 1,828,000 | Salaries Payable | 3,500 | ||
Cost of goods sold | 991,000 | ||||
Gross profit | 837,000 | ||||
Operating Expenses | |||||
Salaries expense | 245,535 | ||||
Depreciation expense | 4 | 4,200 | |||
Rent expense | 49,600 | ||||
Amortization expense – Patents | |||||
Utilities expense | 18,125 | 361,660 | |||
475,340 | |||||
Gain on sale of equipment | 6,200 | ||||
Net income | 481,540 | ||||
Statement of Cash Flows (Direct Method) – Operating Activities | |||||
Cash flows from operating activities | |||||
Cash received from customers | |||||
Cash paid for inventory | |||||
Cash paid for wages | |||||
Cash paid for other operating expenses | |||||
Net cash provided by operating activities | – 0 |
Selected current year-end financial statements of Cabot Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $ | 90,000 | |||
CABOT CORPORATION | ||||
December 31 of Current Year | For Current Year Ended December 31 | |||
Assets | 448,600 | |||
10,000 | 297,250 | |||
Short-term investments | 8,400 | 151,350 | ||
Accounts receivable, net | 33,700 | Operating expenses | 98,600 | |
Merchandise inventory | 32,150 | Interest expense | 4,100 | |
Prepaid expenses | 2,650 | Income before taxes | 48,650 | |
Plant assets, net | 15 | 3,300 | Income tax expense | 19,598 |
Total assets | 240,200 | 29,052 | ||
Liabilities and Equity | ||||
Accounts payable | 17,500 | |||
Accrued wages payable | 3,200 | |||
Income taxes payable | ||||
Long-term note payable, secured by mortgage on plant assets | 63,400 | |||
Common stock | ||||
Retained earnings | 62,800 | |||
Total liabilities and equity | ||||
Compute the following: | ||||
1) Current ratio | ||||
2) Acid-test ratio | ||||
3) Days’ sales uncollected | ||||
4) Inventory turnover | ||||
5) Days’ sales in inventory | ||||
6) Debt-to-equity ratio | ||||
7) Times interest earned | ||||
8) Profit margin ratio | ||||
9) Total asset turnover | ||||
10) Return on total assets | ||||
11) Return on common stockholder’s equity |
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