50.1K

Verified Solution

Link Copied!

the following entries

2019 2018 Assets: > Cash $ 36,950 $ 25,000 Accounts receivable 75,100 78,000 Inventory 45,300 36,000 Property, plant, and equipment 256,400 153,000 Accumulated depreciation 38,650 20,000 Total assets $ 375,100 $ 272,000 Liabilities and Equity: Accounts payable $ 13,100 $ 11,000 Interest payable 11,500 8,000 Wages payable 8,100 9,000 Notes payable 105,400 90,000 Common stock 89,300 50,000 Retained earnings 147,700 104,000 Total liabilities and equity $375,100 $ 272,000 Additional Information: 1. Net Income for 2019 was $58,400. 2. Cash dividends of $14,700 were declared and paid during 2019. 3. During 2019, Beckwith issued $50,000 of notes payable and repaid $35,000 principal relating to notes payable, 4. Common stock was issued for $39,300 cash. 5. Depreciation expense was $19,050, and there were no disposals of equipment. Required: 1. Prepare a statement of cash flows (indirect method) for Beckwith Products for 2019. Use a minus sign to indicate any de Beckwith Products Company Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Net cash provided by operating activities Cash flows from investing activities: Net cash used for investing activities Cash flows from financing activities: Net cach coulded hu financing activities Check My Work 3 more Check My Work uses remaining Homework - Chapter 11 eBook Net cash provided by operating activities Cash flows from investing activities: Net cash used for investing activities Cash flows from financing activities: Net cash provided by financing activities Cash, 1/1/2019 D. Cash, 12/31/2019 2. Compute the following cash-based performance measures: a. Free cash flow b. Cash flow adequacy (Note: Assume that the average amount of debt maturing over the next 5 years is $85,000) Use two decimal places for the adequacy ratio. Enter negative values as negative numbers. Free cash flow Adequacy ratio Check My Work 3 more Check My Work uses remaining

Answer & Explanation Solved by verified expert

See Answer