Develop a statement of cash flows

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Reference no: EM13488181

Just 4 Kids

Balance Sheet

December 31, 20x7

 

ASSETS

 

 

 

Cash

 

$2,600

 

Accounts Receivable

 

71,000

 

Inventory

 

193,000

 

Other Current Assets

 

18,900

 

Total Current Assets

 

 

$285,500

Land

 

$100,000

 

Furnishings, Fixtures & Vehicles

$166,000

 

 

Less Accumulated Depreciation

-28,500

 

 

Furnishings, Fixtures & Vehicles (net)

 

137,500

 

Building

400,000

 

 

Less Accumulated Depreciation

190,000

 

 

Building (net)

 

210,000

 

Total Long-Term Assets

 

 

447,500

Total Assets

 

 

$733,000

 

 

 

 

LIABILITIES

 

 

 

Accounts Payable

 

$ 91,500

 

Short-Term Notes Payable

 

35,000

 

Other Current Liabilities

 

7,000

 

Total Current Liabilities

 

 

$133,500

Long-Term Notes Payable

 

 

388,000

Total Liabilities

 

 

$521,500

EQUITIES

 

 

 

Capital

 

$100,000

 

Retained Earnings

 

111,500

 

Total Equities

 

 

$211,500

Total Liabilities and Equity

 

 

$733,000

 

 

Required (utilizing Excel):

1. Develop a Statement of Cash Flows for Just 4 Kids for the year ending December 31, 20x7. 

2. Analyze the performance of Just 4 Kids based on the financial statements.

3. If you were Bill, how would you explain the issues, which could be brought up from the analysis completed in parts 1 & 2?

4. If you were Nick, would you approve the loan for Bill?  Why or why not?

Reference no: EM13488181

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