Response to the following problem:
Use the below information to answer the following questions:
| |
2007 |
2008 |
| Sales |
$2,870 |
$3,080 |
| Depreciation |
413 |
413 |
| Cost of goods sold |
987 |
1121 |
| Other Expenses |
238 |
196 |
| Interest |
192 |
221 |
| Cash |
1505 |
1539 |
| Accounts Receivables |
1992 |
2244 |
| Short-term Notes Payable |
291 |
273 |
| Long-term debt |
5040 |
5880 |
| Net fixed assets |
12,621 |
12,922 |
| Accounts Payable |
1581 |
1533 |
| Tax rate |
34% |
34% |
| Inventory |
3542 |
3640 |
| *Payout ratio |
52% |
52% |
A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).
B. Create the Balance Sheets for 2007 & 2008. Remember that the Owner's Equity section. A+L+OE, so OE=total A - total L.
C. Create the statement of Cash Flows for 2008.
D. What is the CFFA for 2008?