1. Use the below information to answer the following questions: 2007 2008 Sales $2,870 $3,080 Depreciation 413 413 Cost of goods sold 987 1121 Other Expenses 238 196 Interest 192 221 Cash 1505 1539 Accounts Receivables 1992 2244 Short-term Notes Payable 291 273 Long-term debt 5040 5880 Net fixed assets 12,621 12,922 Accounts Payable 1581 1533 Tax rate 34% 34% Inventory 3542 3640 *Payout ratio 52% 52% A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings). B. Create the Balance Sheets for 2007 & 2008. Remember that the Owner's Equity section. A+L+OE, so OE=total A - total L. C. Create the statement of Cash Flows for 2008. D. What is the CFFA for 2008?

1. Use the below information to answer the following questions: 2007 2008 Sales $2,870 $3,080 Depreciation 413 413 Cost of goods sold 987 1121 Other Expenses 238 196 Interest 192 221 Cash 1505 1539...

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1. Use the below information to answer the following questions:
2007	2008
Sales	$2,870	$3,080
Depreciation	413	413
Cost of goods sold	987	1121
Other Expenses	238	196
Interest	192	221
Cash	1505	1539
Accounts Receivables	1992	2244
Short-term Notes Payable	291	273
Long-term debt	5040	5880
Net fixed assets	12,621	12,922
Accounts Payable	1581	1533
Tax rate	34%	34%
Inventory	3542	3640
*Payout ratio	52%	52%

A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).

B. Create the Balance Sheets for 2007 & 2008. Remember that the Owner's Equity section. A+L+OE, so OE=total A - total L.

C. Create the statement of Cash Flows for 2008.

D. What is the CFFA for 2008?

Answered Same Day Dec 24, 2021

David answered on Dec 24 2021

120 Votes

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