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Below is the balance sheet for Northern Comfort Company for December 31 of 2020 and 2021.
| | 2020 | 2021 | | | 2020 | 2021 |
| Cash | 950 | 1,000 | | Accounts payable | 2,850 | 3,000 |
| Accounts receivable | 2,850 | 3,000 | | Current liabilities | 2,850 | 3,000 |
| Inventory | 2,850 | 3,000 | | Long-term debt | 5,700 | 6,000 |
| Current assets | 6,650 | 7,000 | | Total liabilities | 8,550 | 9,000 |
| Net fixed assets | 12,350 | 13,000 | | Equity | 10,450 | 11,000 |
| Total assets | 19,000 | 20,000 | | Total liab. & equity | 19,000 | 20,000 |
The income statement for 2021 is also given:
| | Amount |
| Sales | 48,000 |
| Cost | 26,400 |
| Depreciation | 4,800 |
| EBIT | 16,800 |
| Interest | 4,800 |
| Taxes | 3,000 |
| Net income | 9,000 |
The company paid $8,450 in dividends to shareholders at the end of the year. The company has not made any investments in other companies.
Attempt 2/3 for 8 pts.
Part 1
What was the cash flow from operating activities?
Attempt 1/3 for 10 pts.
Part 2
What was the cash flow from long-term investing activities?
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Attempt 1/3 for 10 pts.
Part 3
What was the cash flow from financing activities?
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Attempt 1/3 for 10 pts.
Part 4
What was the net cash flow for the year?
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Answer & Explanation
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