Solve the following problems: (40 Marks). KLM, Inc. 2018 Statement of comprehensive income Net sales...
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Solve the following problems: (40 Marks). KLM, Inc. 2018 Statement of comprehensive income Net sales $3,685 Cost of goods sold $3,180 Depreciation $104 Earnings before interest and taxes $401 Interest paid $25 Taxable income $376 Taxes $128 Net income $248 Dividends paid $60 Addition to retained earnings $188 KLM, Inc. Statement of financial positions as of December 31, 2017 and 2018 2017 2018 2017 2018 Cash $520 $601 Accounts payable $621 $704 Accounts rec. $235 $219 Notes payable $333 $272 Inventory $964 $799 Current liabilities $954 $976 Current assets $1,719 $1,619 Long-term debt $350 $60 Net fixed assets $890 $930 Common stock $800 $820 Retained earnings $505 $693 Total assets $2,609 $2,549 Total liabilities and Owners equity $2,609 $2,549 Calculate CFFA and show calculations in details according to both formulas we have discussed in the class.
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