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Determine the amount of new equity raised

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Reference no: EM132994883

Question - Cardinal Industries has the following operating results for 2019: Sales = 66,212; Cost of goods sold = 47,248; Depreciation = 11,754; Interest expenses = 5,300; Dividends paid = 3,776.

At the beginning of the year, net fixed assets were 39,640, current assets were 13,940, and current liabilities were 7,840.

At the end of the year, net fixed assets were 48788, current assets were 17,224, and current liabilities were 9,150. The tax rate for 2019 was 25 percent.

No new debt was issued during the year.

1. Prepare the income statement for the firm.

2. Determine the CFFA and give your interpretation for the sign.

3. Calculate the cash flow to creditors.

4. Determine the amount of new equity raised.

Reference no: EM132994883

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