Ques. 1
Analysts following the Tomkovick Golf Company were given the following information for the years ended December 31st, 2014 and December 31st 2013:
Assets 2014 2013
Cash and marketable securities $33,411 $16,566
Accounts receivable 260,205 318,768
Inventory 423,819 352,740
Other current assets 41,251 29,912
Total current assets $ 758,686 $ 717,986
Plant and equipment 1,931,719 1,609,898
Less: Accumulated depreciation (419,044) (206,678)
Net plant and equipment $1,512,675 $1,403,220
Goodwill and other assets Total assets
Liabilities and Stockholders' Equity 382,145 412,565
$2 653 506 $2 533 771
2014 2013
Accounts payable and accruals $ 378,236 $ 332,004
Notes payable 14,487 7,862
Accrued income taxes 21,125 16,815
Total current liabilities $ 413,848 $ 356,681
Long-term debt 679,981 793,515
Total liabilities $1,093,829 $1,150,196
Preferred stock
Common stock (10,000 shares) 10,000 10,000
Additional paid-in capital 975,465 975,465
Retained earnings 587,546 398,110
Less: Treasury stock (13,334)
Total common equity $1,559,677 $1,383,575
Total liabilities and stockholders' equity $2,653,506 $2,533,771
in addition, it was reported that the company had a net income of $ 3,155,848 and that depreciation expenses were equal to $212,366 during 2014.
a. Construct a 2014 cash flow statement for this firm.
b. Calculate the net cash provided by operating activities.
c. What is the net cash used in investing activities?
d. Compute the net cash provided by financing activities.