As of Year-End ($ thousands) 2020 2019 Liabilities & Shareholders' Equity Accounts payable ..... Short-term bank debt $ 890,000 190,000 $ 850,000 Total liabilities.... 1,080,000 850,000 Shareholders' equity Common stock, $10 par value Additional paid-in-capital. . . . . Retained earnings. ... $ 675,000 $ 775,000 380,000 870,000 .. 300,000 415,000 Total shareholders' equity 2,025,000 1,390,000 Total liabilities & shareholders' equity $3,105,000 $2,240,000 LINCOLN CORPORATION Consolidated Income Statement For Year Ended ($ thousands) 2020 2019 Revenues.... Less: Cost of goods sold $1,448,000 513,000 $1,200,000 420,000 Gross margin .... Less: Selling, general & administrative expenses 935,000 780,000 120,000 150,000 Operating income..... Gain on sale of investments .. 785,000 660,000 70,000 Net income before taxes. . . 660,000 11,000 855,000 .. Less: Income taxes. . . 50,000 Net income after taxes . . $ 805,000 $ 649,000 The footnotes to the Lincoln Corporation's financial statements revealed the following additional information: 1. Property and equipment costing $450 million was sold for its book value of $200 million. 2. Long-term investments were sold for $150 million, which included a gain of $70 million. Required Using the above financial data for the Lincoln Corporation, prepare the firm's statement of cash flow for 2020 using the indirect method. What does the company's statement of cash flow reveal about the business's aolth?

Prepare a complete statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign.

Which of the following is the final step in preparing a spreadsheet (work sheet) for the statement of cash flows using the indirect method? Add the Debit and Credit Transactions columns and verify that the totals are equal. Analyze all noncash accounts and enter the net increase (decrease) in cash during the period. Add the Balance column totals, which should total to zero. After all noncash accounts have been analyzed, enter the net increase (decrease) in cash during the period.

1.Based on the sales forecast, the finance manager estimates the receipt of cash based on cash and ________.   Group of answer choices   accounts receivables   inventory sales   credit sales   net income

Is it possible to have “record net income” for a quarter and negative cash flows at the same time? Be specific in your response as to how you would, or would not, be able to see this in the financial statements.

abels and Amount Descriptions Instructions Labels Dec. 31, Dec. 31, December 31, 20Y3 20Y3 20Y2 For the Year Ended December 31, 20Y3 Amount Descriptions Assets 3 Cash $625,680.00 $586,230.00 Cash received from sale of investments 228,100.00 208,850.00 4 Accounts receivable (net) 5 Inventories Cash paid for purchase of land Cash paid for purchase of equipment Cash received from issuing common 640,910.00 617,650.00 0.00 240,620.00 6 Investments 7 Land 328,090.00 0,00 stock 704,540.00 553,320.00 8 Equipment 9 Accumulated depreciation-equipment Cash dividends (166,310.00) (147840.00) Decrease in accounts payable Decreașe in accounts receivable Decrease in accrued expenses payable 10 Total assets $2,361,010.00 $2,058,830.00 11 Liabilities and Stockholders' Equity $425,280.00 $404,550.00 52,020.00 12 Accounts payable Decrease in inventories 41,990.00 13 Accrued expenses payable Depreciation 24,190.00 20,170.00 14 Dividends payablie Gain on sale of investments 15 Common stock, $4 par…

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E Print Item What adjustment(s) should be made to reconcile net income to net cash flows from operating activities (indirect method) considering the following balances in current assets? For those boxes in which you must enter subtractive or negative numbers use a minus sign. Accounts receivable, beginning of year $29,000 Accounts receivable, end of year 35,000 Prepaid insurance, beginning of year 20,000 Prepaid insurance, end of year 18,000 Accounts Receivable Prepaid Insurance Total %24