A comparative balance sheet and an income statement for Burgess Company are give

Question

A comparative balance sheet and an income statement for Burgess Company are given below Burgess Company Comparative Balance Sheet (dollars in millions) Ending Beginning Balance Balance Assets Current assets Cash and cash equivalents Accounts receivable Inventory S 49 $ 79 580 615 645 660 Total current assets Property, plant, and equipment Net property,plant, and equipment Total assets 1,354 1,274 1,515 1,466 641 Less accumulated depreciation 765 750 825 $ 2,104 $ 2,099 Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued liabilities Income taxes payable $ 250 $ 155 165 70 190 76 Total current liabilities Bonds payable 516 450 390 620 Total liabilities 966 1,010 Stockholders' equity: Common stock Retained earnings 161 977 161 928 Total stockholders' equity 1,138 1,089 Total liabilities and stockholders' equity $ 2,104 2,099

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 115 Adjustment to reconcile net income Depreciation 132 Gain on sale of equipment (3) Increase account receivable (65) Increase inventory (45) Increase account payable 95 Increase accured liabilities 25 Increase income tax payable 6 Net cash flow from operating activities 260 Cash flow from investing activities Purchase of property, plant & equipment (62) Sale of property, plant & equipment 8 Net Cash flow from investing activities (54) Cash flow from financing activities Repaid of bonds payable (170) Dividend paid (66) Net Cash flow from Financing activities (236) Net cash flow (30) Beginning cash 79 Ending cash 49

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.