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Question: i need help figuring out part c it should be...

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I need help figuring out part C. It should be $91450 but I’m not ending up with that.
FMTS CHUb P14 Nancy Corona -Exc File Home Insert Draw Page Layout Formulas Data Review View Help ,O Tell me what you w Arial Currency Formatting Font 90 5 a. Cumberland Industries most recent sales were $455,000,000; operating costs (excluding depreciation) were 6 |equal to 85% of sales: net fixed assets were $67,000,000, depreciation amounted to 10% of net fixed assets: 7 linterest expenses were $8,550,000; the state-plus-federal corporate tax rate was 40% and Cumberland paid 8 25% of its net income out in dividends. Given this information, construct Cumberlands income statement. 9 Also calculate total dividends and the addition to retained earnings. 1 The input information required for the problem is outlined in the Key Input Data section below. Using this data and the 12 balance sheet above, we constructed the income statement shown below. 14 Key Input Data for Cumberland Industries 2018 15 (Thousands of dollars) 6 Sales Revenue 17 Expenses (excluding depreciation) as a percent of sales 18 Net fxed assest 19 Depr. as a % of net fixed assets 20 Tax rate 21 Interest expense $455,000 85.0% $67,000 10.0% 40.0% $8,550 Pavout Ratio 25% 23 24 Cumberland Industries: Income Statement (Thousands of dollars) 25 Sales 26 Operating costs excluding depreciation 27 EBITDA 2018 $455,000,000 $386,750 $68,250 $6,700 28 Depreciation (Cumberland has no amortization charges) Build a Model O O Type here to search up
IFM13 Cho6 P14 Nancy Corona -Exce File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what Arial paste 回1W-B-o-스· 図 Merge & Conter $,%, 님书 . E90 24 Cumberland Industries: Income Statement (Thousands of dollars) 25 Sales 26 Operating costs excluding depreciation 27 EBITDA 28 Depreciation (Cumberland has no amortization charges) 29 EBIT 2018 $455,000,000 $386,750 $68,250 $6,700 $61,550 $8,550 $53,000 $21,200 $31,800 31 EBT 32 Taxes (40%) 33 Net income 34 35 Common dividends 36 Addition to retained earnings 37 $7,950 $23,850 8 b. Cumberland Industries partial balance sheets are shown below. Cumberland issued $10,000,000 of new 9 common stock in the most recent year. Using this information and the results from part a, fill in the missing for common stock, retained earnings, total common equity, and total liabilities and equity $10,000 3 Dollar value of common stock issued (in thousands of dolars) 45 Cumberland Industries December 31 Balance Sheets 46 (in thousands of dolars) 2018 2017 47 Build a Model O Type here to search
Home Insert Draw Page Layout Fulas Arial Currency Conditional Fo Formatting E90 46 (in thousands of dollars) 47 2018 2017 48 Assets $91,450$74,625 15.100 108,47085,527 38.450 34.982 9 Cash and cash equivalents 50 Short-term investments 11,400 52 Inventories 53 Total current assets 54 Net fixed assets $249,770 $210,234 42,436 $316,770 $252,670 67.000 56 57 Liabilities and equity 58 Accounts payable 59 Accruals 60 Notes payable 61 Total current labilities 62 Long-term debt 63 Total lablities 64 Common stock 65 Retained earnings 30,761$23,109 30,405 22,658 2,71714,217 $73,883$59,982 0.26363,914 $154.146$123,896 $100,000 $90,000 38.774 $162 624 $128 774 $316.770 $252 670 62.624 69 Check for balancing (this should be zero) 70 Build a ModelQ O Type here to search の 2 6 o./ Q // W,11 E || R İİ TII. Y NU
E90 70 71 c. Construct the statement of cash flows for the most recent year. 72 73 Statement of Cash Flows 74 (in thousands of dollars) 75 76 Operating Activities 77 Net Income 2018 $31,800 80 Depreciation 81 Due to changes in working capital 82 Due to change in accounts receivable 83 Due to change in inventories 84 Due to change in accounts payable 85 Due to change in accruals $6,700 ($22,943) ($3,468) $7,652 $7,749 $27,490 86 Net cash provided (used) by operating activities 88 I 89 Casn useo to acquire gross fxed assets ($31,264 $3,700 ($34,964) 91 Net cash provided (used) by investing activities 92 93 Fina Build a Model O O Type here to search 2 5
Font Alignment E90 88 Investing Actvities $31,264 $3,700 ($34,964) 89 Cash used to acquire gross fixed assets Due to change in short-term investments 91 Net cash provided (used) by investing activities 92 93 Financing Activities 94 Due to change in notes payable 95 Due to change in kong-term debt 96 Due to change in common stock ($1,500) $16,349 $10,000 (S7,950) $16,899 98 Net cash provided (used) by financing activities $16,899 $9,425 $26,324 100 Net increase/decrease in cash 101 Add: Cash balance at the beginning of the year 102 Cash balance at the end of the year 103 04 Check: cash balance in statement of cash flows should equal the cash 05 on balance sheets as shown here: 108 $91,450 108 109 110 Build a Model C O Type here to search 4e 2 5 6
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