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  3. statement of cash flow presented below are the financial statements...

Question: statement of cash flow presented below are the financial statements...

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Statement of Cash Flow
Presented below are the financial statements for the Amphlett Corporation, as of year-end 2012 and 2013.

AMPHLETT CORPORATION
Consolidated Balance Sheets

As of Year-End ($ thousands)

2013

2012

Assets

Current

Cash

$18,000

$108,000

Marketable securities

240,000

-

Accounts receivable (net)

708,000

528,000

Inventory

720,000

738,000

Total current assets

1,686,000

1,374,000

Noncurrent

Long-term investments

372,000

468,000

Property & equipment

2,160,000

1,320,000

Less: Accumulated depreciation

(600,000)

(600,000)

Property & equipment (net)

1,560,000

720,000

Intangibles (net)

114,000

126,000

Total noncurrent assets

2,046,000

1,314,000

Total assets

$3,732,000

$2,688,000

Liabilities & Shareholders' Equity

Accounts payable

$1,080,000

$1,020,000

Short-term bank debt

228,000

-

Total liabilities

1,308,000

1,020,000

Shareholders' equity

Common stock, $10 par value

930,000

810,000

Additional paid-in-capital

456,000

360,000

Retained earnings

1,038,000

498,000

Total shareholders' equity

2,424,000

1,668,000

Total liabilities & shareholders' equity

$3,732,000

$2,688,000

AMPHLETT CORPORATION
Consolidated Income Statement

For Year Ended ($ thousands)

2013

2012

Revenues

$1,716,000

$1,440,000

Less: Cost of goods sold

600,000

504,000

Gross margin

1,116,000

936,000

Less: Selling, general & administrative expenses

180,000

144,000

Operating income

936,000

792,000

Gain on sale of investments

84,000

-

Net income before taxes

1,020,000

792,000

Less: Income taxes

60,000

13,200

Net income after taxes

$960,000

$778,800


The footnotes to the Amphlett Corporation's financial statements revealed the following additional information:

  1. Property and equipment costing $540 million was sold for its book value of $240 million.
  2. Long-term investments were sold for $180 million, which included a gain of $84 million.

Required
Using the above financial data for the Amphlett Corporation, prepare the firm's statement of cash flow for 2013 using the indirect method.

Use a negative sign with answers to indicate a decrease in cash.

Amphlett Corporation
Statement of Cash Flows
For Year Ended 2013

(in thousands)

Cash flow From Operations

BLANK

Net Income

$Answer

Add:

Depression Expense

Answer

Amortization expense

Answer

Less:

Gain on Sale of Investments

Answer

Accounts receivable (net)

Answer

Inventory

Answer

Accountable Payable

Answer

Cash Flow From Operations

Answer

Cash Flow for Investing

BLANK

Marketable securities

Answer

Long-term investments

Answer

Purchase of property and equipment

Answer

Sale of Property and Equipment

Answer

Cash Flow for Investing

Answer

Cash From Financing

BLANK

Short-term bank debt

Answer

Common stock + additional paid in capital

Answer

Dividends Paid

Answer

Cash From Financing

Answer

Decrease in Cash

Answer

Cash, beginning of year

Answer

Cash, end of year

$Answer

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