Indicate the amount of external financing require

| June 6, 2016

Question
Felicia & Fred
Balance Sheets
Current and Prior Years

Felicia & Fred
Statement of Cash Flows
For the Current Period Ended
000s
000s

Assets
Cash
Accounts Receivable
Inventory
Total Current Assets
Land
Building & Equipment
Less: Accumulated Depreciation – Building & Equipment
Total Long Term Assets
Total Assets

000s

50,000
40,000
600,000 600,000
(375,700) (320,000)
274,300 320,000
315,200 349,000

9,200
0
3,000
24,000
0
36,200

7,000
4,200
0
0
11,200
22,400

Bonds Payable
Total Long Term Liabilities

109,900
109,900

200,000
200,000

Common Stock
Retained Earnings
Total Stockholders’ Equity
Total Liabilities and Stockholders’ Equity

120,000
49,100
169,100
315,200

120,000
6,600
126,600
349,000

Felicia & Fred
Income Statements
For the Current and Prior Periods Ended
Revenue:
Less: Cost of Goods Sold
Less: Depreciation Expense
Gross Margin
Selling, General & Administrative Expenses
Income Before Interest & Taxes
Interest Expense
Income Before Taxes
Income Taxes
Net Income

Cash Flows from Operating Activities:
Net Income

52,500

000s
000s
current
prior
975,000 950,000
(723,600) (749,000)
(55,700) (52,000)
195,700 149,000
(58,200) (64,000)
137,500
85,000
(15,000) (12,000)
122,500
73,000
(70,000) (60,000)
52,500
13,000

Adjustments to reconcile net income to net cash provided by operating
activities
Depreciation Expense
55,700
Increase in accounts receivable
(100)
Increase in inventory
(11,200)
Decrease in salaries payable
(4,200)
Increase in interest payable
3,000
Decrease in taxes payable
(11,200)
Increase in Short Term notes Payable
24,000
Increase in accounts payable
2,200
Net Cash Flow from Operating Activities

110,700

Cash Flows from Investing Activities:
Cash paid to purchase land
Net Cash Flow from Investing Activities

current
prior
12,000
11,400
4,700
4,600
24,200
13,000
40,900
29,000

Liabilities and Stockholders’ Equity
Accounts Payable
Salaries Payable
Interest Payable
Short Term Notes Payable
Taxes Payable
Total Current Liabilities

Ratios

(10,000)

(10,000)

Cash Flows From Financing Activities:
Cash paid for Bonds
Cash paid for dividends
Net Cash Flow from Financing Activities
Net Increase in Cash
Plus: Cash Balance Prior Year
Cash Balance Current Year

(90,100)
(10,000)
(100,100)
600
11,400
12,000

Felicia & Fred
Balance Sheets
Current and Prior Years

Felicia & Fred
Statement of Cash Flows
For the Current Period Ended
000s
000s

000s

000s

next

Cash
Accounts Receivable
Inventory
Total Current Assets
Land
Building & Equipment
Less: Accumulated Depreciation – Building & Equipment
Total Long Term Assets
Total Assets

current
prior
12,000
11,400
4,700
4,600
24,200
13,000
40,900
29,000

52,500

50,000
40,000
600,000 600,000
(375,700) (320,000)
274,300 320,000
315,200 349,000

Liabilities and Stockholders’ Equity
Accounts Payable
Salaries Payable
Interest Payable
Short Term Notes Payable
Taxes Payable
Total Current Liabilities

9,200
0
3,000
24,000
0
36,200

7,000
4,200
0
0
11,200
22,400

Bonds Payable
Total Long Term Liabilities

109,900
109,900

200,000
200,000

Common Stock
Retained Earnings
Total Stockholders’ Equity
Total Liabilities and Stockholders’ Equity

120,000
49,100
169,100
315,200

120,000
6,600
126,600
349,000

Felicia & Fred
Income Statements
For the Current and Prior Periods Ended

000s
next

000s
000s
current
prior
975,000 950,000
(723,600) (749,000)
(55,700) (52,000)
195,700 149,000
(58,200) (64,000)
137,500
85,000
(15,000) (12,000)
122,500
73,000
(70,000) (60,000)
52,500
13,000

Adjustments to reconcile net income to net cash provided by operating
activities
Depreciation Expense
55,700
Increase in accounts receivable
(100)
Increase in inventory
(11,200)
Decrease in salaries payable
(4,200)
Increase in interest payable
3,000
Decrease in taxes payable
(11,200)
Increase in Short Term notes Payable
24,000
Increase in accounts payable
2,200
Net Cash Flow from Operating Activities

110,700

Cash Flows from Investing Activities:
Cash paid to purchase land
Net Cash Flow from Investing Activities

Assets

Revenue:
Less: Cost of Goods Sold
Less: Depreciation Expense
Gross Margin
Selling, General & Administrative Expenses
Income Before Interest & Taxes
Interest Expense
Income Before Taxes
Income Taxes
Net Income

Cash Flows from Operating Activities:
Net Income

(10,000)

(10,000)

Cash Flows From Financing Activities:
Cash paid for Bonds
Cash paid for dividends
Net Cash Flow from Financing Activities
Net Increase in Cash
Plus: Cash Balance Prior Year
Cash Balance Current Year

(90,100)
(10,000)
(100,100)
600
11,400
12,000

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