x.Hmh Flow Bailey Corporation\'s financial statements ( dollars and shares are i
ID: 2662556 • Letter: X
Question
x.Hmh FlowBailey Corporation's financial statements ( dollars and shares are in millions ) are provided here.
balance sheet as of december 31
2008 2007
asset
cash and equivalents $14,000 $13,000
account receivable 30,000 25,000
Inventories 28,125 21,000
Total current asset $72,125 $59,000
net plant and equipment 50,000 47,000
total asset $122,125 $106,000
Liabilities and equity
Account payable $10,800 $9,000
notes payable 6,700 5,150
accruals 7,600 6,000
total current liabilities $25,100 $20,150
long-term bonds 15,000 15,000
total debt $40,100 $35,150
common stock (5,000 shares) 50,000 50,000
Retained earnings 32,025 20,850
commmon equity $82,025 $70,850
total liabilities and equity $122,125 $106,000
income statement for year ending december 31,2008
sales balance sheet as of december 31
2008 2007
asset
cash and equivalents $14,000 $13,000
account receivable 30,000 25,000
Inventories 28,125 21,000
Total current asset $72,125 $59,000
net plant and equipment 50,000 47,000
total asset $122,125 $106,000
Liabilities and equity
Account payable $10,800 $9,000
notes payable 6,700 5,150
accruals 7,600 6,000
total current liabilities $25,100 $20,150
long-term bonds 15,000 15,000
total debt $40,100 $35,150
common stock (5,000 shares) 50,000 50,000
Retained earnings 32,025 20,850
commmon equity $82,025 $70,850
total liabilities and equity $122,125 $106,000
income statement for year ending december 31,2008
sales 2008 2007
asset
cash and equivalents $14,000 $13,000
account receivable 30,000 25,000
Inventories 28,125 21,000
Total current asset $72,125 $59,000
net plant and equipment 50,000 47,000
total asset $122,125 $106,000
Liabilities and equity
Account payable $10,800 $9,000
notes payable 6,700 5,150
accruals 7,600 6,000
total current liabilities $25,100 $20,150
long-term bonds 15,000 15,000
total debt $40,100 $35,150
common stock (5,000 shares) 50,000 50,000
Retained earnings 32,025 20,850
commmon equity $82,025 $70,850
total liabilities and equity $122,125 $106,000
income statement for year ending december 31,2008
sales income statement for year ending december 31,2008
Explanation / Answer
Net Working Capital = current asset - current liabilities Net Working Capital 2007 = 59,000 - 20,150 = $38,850 Net Working Capital 2008 = 72,125 - 25,100 = $47,025 Free CashFlow Net Income 22,350 Depreciation &amortization 5,000 Changes in WorkingCapital -8,175 CapitalExpenditure -3,000 Free CashFlow 16,175 Retained Earnings, Dec 31,2007 20,850 Add: NetIncome 22,350 43,200 Less:Dividendspaid 11,175 Retained Earnings, Dec 31,2008 32,025
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