50.1K

Verified Solution

Link Copied!

8 Use the balance sheet and income statement below: 2018 2017 14 points $ 13 27 25 $ 65 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) 2018 2017 Liabilities and Equity Current liabilities $ 8 Accrued wages and taxes 38 30 Accounts payable 41 35 Notes payable $ 87 $ 73 Total Long-term debt $111 $ 90 Stockholders' equity 31 25 Preferred stock (2 million shares) $ 80 $ 65 Common stock and paid-in-surplus (5 million shares) 28 28 Retained earnings $108 $ 93 Total $195 $166 Total liabilities and equity eBook Assets Current assets Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets $ 7 25 23 $ 55 $ 43 Print References $ 2 11 69 582 $195 11 55 $ 68 $166 $195 $166 Total liabilities and equity 8 Total Assets its $ eBook Print $ ferences $ CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2018 and 2017 (in millions of dollars) 2018 2017 Net sales $ 108 $ 112 Less: Cost of goods sold 54 50 Gross profits 54 $ Less: Other operating expenses 8 7 Earnings before interest, taxes depreciation, and amortization (EBITDA) $ 46 $ 55 Less: Accumulated depreciation 6 6 Earnings before interest and taxes (EBIT) $ 40 49 Less! Interest 6 6 Earnings before taxes (EBT) 34 $ 43 Less: Taxes 16 19 Net income $ 18 $ 24 Less: Preferred stock dividends $ 1 $ 1 Net income available to common stockholders $ 17 $ 23 Less: Common stock dividends 3 3 Addition to retained earnings 14 20 Per (common) share data: Earnings per share (EPS) $ 3.40 $ 4.60 Dividends per share (DPS) $ 0.60 S 0.60 Book value per share (BVPS) $16.00 $ 13.20 Market value (price) per share (MVPS) $16.65 $16.60 S $ $ Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in deducted should be indicated with a minus sign.) Chapter 2 Homework Saved Help 8 Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation, (Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign.) 14 points Statement of Cash Flows for Year Ending December 11, 2018 (in millions of dollars) Cash flows from operating activities eBook Additions (sources of cash) References Subtractions (uses of cash Net cash flow from operating activities Cash flows from investing activities Subtractions Net cash flow from investing activities Cash flows from financing activities Additions: Subtractions eferences Net cash flow from investing activities Cash flows from financing activities Additions: Subtractions: Net cash flow from financing activities Net change in cash and marketable securities

Answer & Explanation Solved by verified expert

See Answer