11.The Red Company’s balance sheet as of December 31, 2004 was as follows:
| Dec. 31, 2003 | Dec. 31, 2004 |
Cash | $1,500,000 | $1,900,000 |
Accounts Receivable | 3,000,000 | 3,400,000 |
Inventory | 2,300,000 | 2,500,000 |
Property, Plant & Equipment | 16,700,000 | 19,700,000 |
Less Accumulated Depreciation | (5,300,000) | (8,200,000) |
Total Assets | $18,200,000 | $19,300,000 |
| ||
Accounts Payable | $2,100,000 | $1,900,000 |
Interest Payable | 800,000 | 1,200,000 |
Income Taxes Payable | 1,000,000 | 800,000 |
Notes Payable | 2,700,000 | 2,900,000 |
Deferred Income Taxes | 2,600,000 | 2,900,000 |
Common Stock | 1,000,000 | 1,000,000 |
Retained Earnings | 8,000,000 | 8,600,000 |
| $18,200,000 | $19,300,000 |
Red’s interest expense was $900,000 and income tax expense was $
The other cash outflows section of Cash Flow from Operations (CFO) for 2004 would total:
A) $1,400,000.
B) $1,700,000.
C) $2,100,000.
D) $1,900,000.
12.An analyst has gathered the following information about a company:
Income Statement for the Year | |||||||
| |||||||
Sales | | $1,500 | |||||
Expenses | | | |||||
| COGS | $1,300 | | ||||
| Depreciation | 20 | | ||||
| Goodwill | 10 | | ||||
| Int. Expenses | 40 | | ||||
| | Total expenses | | 1,370 | |||
Income from cont. op. | | 130 | |||||
| | Gain on sale | | 30 | |||
Income before tax | | 160 | |||||
Income tax | | 64 | |||||
Net Income | | $96 | |||||
Additional Information: | |
Dividends paid | $30 |
Common stock sold | 20 |
Equipment purchased | 50 |
Bonds issued | 80 |
Fixed asset sold for (original cost of $100 with accumulated depreciation of $70) | 60 |
Accounts receivable decreased by | 30 |
Inventory decreased by | 20 |
Accounts payable increased by | 20 |
Wages payable decreased by | 10 |
What is the cash flow from financing?</P
A) $130.
B) $70.
C) $110.
D) -$110.
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