FINANCIAL STATEMENT PROJECT

FINANCIAL STATEMENT PROJECT



FINANCIAL STATEMENT PROJECT

PROBLEM 1

Ehrens corporation

Statement of Cashflows

For the year ended 31 December 2010

Cashflow from operating activities

Net Income

$43,650

Adjustments to reconcile net income to net cash by operating activities

Increase in Accounts recievables

-2780

Increase in merchandise inventory

-11415

Increase in accounts payable

24620

increase in income taxes payable

525

Depriciation expense

29400

Loss on sale of assests

8400

Net cash provided by operating activities

 

92400

Cashflow from investing activities

Cash received from sale of equipment

2100

Cash received from sale of long-term investments

500

Cash paid for equipment

-67550

Net cash Used in investing activities

 

-64950

Cashflows from financing activities

Stocks issued for cash

25000

Cash paid for redemption of bonds

-17250

Cash paid for dividends

-33600

net Cash from financing activities

-25850

Net increase in ...