What is the net cash provided by operating activities

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Reference no: EM132043723

Question: Cash flows: Analysts following the Tomkovick Golf Company were given the following balance sheet information for the years ended June 30, 2014 and June 30 2013:


2014

2013

Assets



Cash and marketable securities

$    33,411

$    16,566

Accounts receivable

260,205

318,768

Inventory

423,819

352,740

Other current assets

41,251

29,912

   Total current assets

$ 758,686

$ 717,986

Plant and equipment

1,931,719

1,609,898

Less: Accumulated depreciation

(419,044)

(206,678)

Net plant and equipment

$1,512,675

$1,403,220

Goodwill and other assets

382,145

412,565

Total assets

$2,653,506

$2,533,771

Liabilities and Equity

2014

2013

Accounts payable and accruals

$ 378,236

$ 332,004

Notes payable

14,487

7,862

Accrued income taxes

21,125

16,815

   Total current liabilities

$ 413,848

$ 356,681

Long-term debt

679,981

793,515

   Total liabilities

$1,093,829

$1,150,196

Preferred stock

__

__

Common stock (10,000 shares)

10,000

10,000

Additional paid-in capital

975,465

975,465

Retained earnings

587,546

398,110

Less: Treasury stock

(13,334)

__

   Total common equity

$1,559,677

$1,383,575

Total liabilities and equity

$2,653,506

$2,533,771

In addition, it was reported that the company had a net income of $ 3,155,848 and that depreciation expenses were equal to $212,366 during 2014. Assume amortization expense was $0 in 2014.

a. Construct a 2014 cash flow statement for this firm.

b. What is the net cash provided by operating activities?

c. What is the net cash provided/used by financing activities? Note, don't forget to construct a statement of retained earnings to determine if the company paid a dividend?

d. Does the sum of the net cash provided by operating, investing and financing activities equal $16,845?

Reference no: EM132043723

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