Prepare a complete statement of cash flows

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Reference no: EM131858946

Assignment

Using the data provided, prepare a completeStatement of Cash Flows using both the direct methodandthe indirect methodof summarizing the cash flow from operating activities.

Note that to complete the assignment you will need to calculate items such as dividends paid (Retained Earnings2015 + Net income2016 - Retained Earnings2016 = Dividends paid2016), and capital expenditures (Net Fixed Assets2015 - Net Book Value of Fixed Assets Sold2016 - Depreciation Expense2016- Net Fixed Assets2016 = Capital expenditures made2016.

Please submit your work via the assignment submission feature in Blackboard.

Assets	2015	2016		2016
Cash	$15,525	$18,931	Sales	$969,236
Marketable securities	8,711	12,533	Less: Cost of goods sold	785,772
Accounts receivable	97,236	100,818	Gross profit	183,464
Inventories	211,820	200,864	Less: Cash operating expenses	108,707
Other current assets	12,798	12,138	Depreciation expense	35,337
Total current assets	346,090	345,284	Amortization expense	2,314
Gross fixed assets	833,835	861,267	Operating income (EBIT)	37,106
Less: Accumulated depreciation	570,206	608,636	Less: Interest expense	1,790
Net fixed assets	263,629	252,631	Plus: Interest income	0
Equity method investments	6,774	6,864	Other nonoperating income	203
Other long-term investments	18,969	32,769	Income from equity investments	90
Goodwill	86,726	86,726	Loss on sale of fixed assets	(424)
Other intangible assets	13,389	11,075	Earnings before taxes	35,185
Other noncurrent assets	6,716	15,950	Tax expense	9,124
Total assets	$742,293	$751,299	Net income	$26,061

Liabilities and Equity
Current portion of long-term debt	2,345	2,559
Short-term debt (notes payable)	5,332	1,588
Accounts payable	31,888	32,524
Taxes payable	2,373	4,781
Accrued expenses	27,466	29,874
Deferred revenue	3,695	1,105
Other current liabilities	22,035	21,347
Total current liabilities	95,134	93,778
Long-term debt	47,893	48,369
Deferred income taxes	17,835	17,579
Other noncurrent liabilities	98,474	97,484
Total liabilities	259,336	257,210
Common stock and paid-in capital	208,967	212,701
Retained earnings	499,659	517,903
Accum. other comp. income	(77,110)	(82,116)
Less: Treasury stock	148,559	154,399
Total equity	482,957	494,089
Total liabilities and equity	$742,293	$751,299

Footnote

During the year, the company received cash of $6,338 when itsold fixed assets listed with a net book value of $6,762, which gave rise to the $424 loss that appears on the income statement.

When determining the amount of dividends paid, please include the amounts of accumulated other comprehensive income as adjustments to the amount retained earnings for each year.

Note: Check figure for cash flow from operations = $63,774. Note also that there are 16items used to arrive at that amount under the indirect method.

Attachment:- Assignment-data.rar

Reference no: EM131858946

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