The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars.     2018   2019   Revenue $ 3,900   $ 4,000   Cost of goods sold   1,200     1,300   Depreciation   470     490   Inventories   330     400   Administrative expenses   470     520   Interest expense   180     180   Federal and state taxes*   480     500   Accounts payable   350     410   Accounts receivable   370     445   Net fixed assets†   5,000     5,850   Long-term debt   2,300     5,100   Notes payable   790     520   Dividends paid   490     490   Cash and marketable securities   2,525     410       * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.   Construct a statement of cash flows for Fincorp for 2019.

he current sections of Skysong, Inc.’s balance sheets at December 31, 2021 and 2022, are presented here.Skysong’s net income for 2022 was $152,700. Depreciation expense was $27,600.     2022   2021 Current assets            Cash   $107,600   $95,900    Accounts receivable   78,400   89,400    Inventory   167,800   172,100    Prepaid expenses   26,800   22,000       Total current assets   $380,600   $379,400 Current liabilities            Accrued expenses payable   $15,800   $8,600    Accounts payable   84,900   95,500       Total current liabilities   $100,700   $104,100 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Concord Ltd. had the following 2023 income statement data: Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,900) Income before income taxes Income taxes Net income $207,500 (a) 119,000 88,500 48,000 40,500 16,000 $24,500 The following accounts increased during 2023 by the amounts shown: Accounts Receivable, $15,900; Inventory, $10,800; Accounts Payable (relating to inventory), $13,900; Taxes Payable, $2,200; and Mortgage Payable, $40,500. Prepare the cash flows from operating activities section of Concord's 2023 statement of cash flows using the indirect method and following IFRS. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000 or in parenthesis e.g. (15,000).) Concord Corporation Statement of Cash Flows Indirect Mothed)

Sunland Company reported the following in its 2022 and 2021 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income Gross profit rate 2022 Profit margin $152,000 91,200 30,400 18,000 $12,400 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%) 2021 $122,000 73,200 14,640 10,000 2022 $24,160 % 2021

The preliminary 2018 income statement of Alexian Systems, Inc., is presented below:ALEXIAN SYSTEMS, INC.Income StatementFor the Year Ended December 31, 2018($ in millions, except earnings per share)Revenues and gains:Net sales $ 425Interest 3Other income 126Total revenues and gains 554Expenses:Cost of goods sold 270Selling and administrative 154Income taxes 52Total expenses 476Net Income $ 78Earnings per share $3.90Additional Information:1. Selling and administrative expenses include $26 million in restructuring costs.2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $6 million is from the gain onsale of investments.3. Cost of goods sold was increased by $5 million to correct an error in the calculation of 2017’s ending inventory. The amount is material.Required:For each of the three additional facts listed in the additional information, discuss the…

The following are financial statements of Carla Vista Co.. Carla Vista Co.Income StatementFor the Year Ended December 31, 2022 Net sales   $2,247,500 Cost of goods sold   1,018,500 Selling and administrative expenses   901,000 Interest expense   82,000 Income tax expense   75,000 Net income   $ 171,000   Carla Vista Co.Balance SheetDecember 31, 2022 Assets     Current assets       Cash   $ 56,300   Debt investments   81,000   Accounts receivable (net)   169,500   Inventory   118,900    Total current assets   425,700 Plant assets (net)   574,000 Total assets   $ 999,700 Liabilities and Stockholders’ Equity     Current liabilities       Accounts payable   $ 161,000   Income taxes payable   37,000    Total current liabilities   198,000 Bonds payable   201,880    Total liabilities   399,880 Stockholders’ equity       Common stock   355,000   Retained earnings   244,820…

The accounting records of Uniontown Industries, Inc., provided the data below for the year endedDecember 31, 2020:Sales $1,000,000Cost of goods sold 500,000Depreciation expense 15,000Insurance expense 6,000Selling, general and administrative expenses 140,000Interest expense 20,000Income tax expense 125,000Net income 194,000Decrease in inventory 2,000Increase in accounts receivable 1,400Amortization of bond discount 5,000Decrease in prepaid insurance 300Cash dividends paid 20,000Required: In good form, prepare the operating activities section of the statement of cash flows for 2020using the direct method. Show all work for partial credit.

The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019.   INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) Net sales $ 27,587   Costs   17,589   Depreciation   1,422   Earnings before interest and taxes (EBIT) $ 8,576   Interest expense   537   Pretax income   8,039   Federal taxes (@ 21%)   1,688   Net income $ 6,351       BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions)   Assets 2019   2018   Liabilities and Shareholders' Equity 2019   2018     Current assets                 Current liabilities                   Cash and marketable securities $ 2,356     $ 2,356     Debt due for repayment   —     $ 427       Receivables   1,395       1,355     Accounts payable $ 3,423       3,163       Inventories   142       137     Total current liabilities $ 3,423     $ 3,590       Other current assets     1,109       636                         Total current…

The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable. Net fixed assets* Long-term debt Notes payable Dividends paid Cash and marketable securities 2021 $ 4,100 1,700 470 270 520 240 340 320 350 4,800 2,400 687 380 760 Net working capital 2022 $ 4,200 1,800 490 335 570 240 360 355 395 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. 5,540 2,860 540 380 480 What was the change in net working capital during the year? Note: Enter your answer in thousands of dollars. by

The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars.     2018   2019   Revenue $ 4,800   $ 4,900   Cost of goods sold   1,800     1,900   Depreciation   530     550   Inventories   250     310   Administrative expenses   440     490   Interest expense   160     160   Federal and state taxes*   560     580   Accounts payable   300     360   Accounts receivable   420     490   Net fixed assets†   5,800     6,500   Long-term debt   2,800     3,150   Notes payable   700     510   Dividends paid   370     370   Cash and marketable securities   810     490       * Taxes are paid in their entirety in the year that the tax obligation is incurred. † Net fixed assets are fixed assets net of accumulated depreciation since the asset was…