USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS StepCurry, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 2,140 2,460 Accounts receivable 12,840 13,530 Inventory 20,330 24,600 Total current assets 35,310 40,590 Net fixed assets* 71,690 82,410 Total assets 107,000 123,000 Notes payable 3,210 2,460 Accounts payable 9,630 9,840 Accruals 1,070 3,690 Total current liabilities 13,910 15,990 Long-term debt 25,680 25,830 Common stock 22,470 28,290 Capital surplus 5,350 7,380 Retained earnings 39,590 45,510 Total liabilities and equity 107,000 123,000 Additional Data from Company Income Statement(s): Sales in Year 2 246,000 Net income in Year 2 4,920 Depreciation expense in Year 1 8,560 Depreciation expense in Year 2 11,070 No long-term assets were sold in either Year 1 or Year 2 28. What did StepCurry, Incorporated report as Net Cash Flow from Operating Activities for Year 2? 29. What did StepCurry, Incorporated report as Net Cash Flow from Investing Activities for Year 2? 30. What did StepCurry, Incorporated report as Net Cash Flow from Financing Activities for Year 2?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS
StepCurry, Incorporated
Balance Sheets for the Years Ending December 31,
(All amounts are in dollars)
Year 1
Year 2
Cash
2,140
2,460
Accounts receivable
12,840
13,530
Inventory
20,330
24,600
Total current assets
35,310
40,590
Net fixed assets*
71,690
82,410
Total assets
107,000
123,000
Notes payable
3,210
2,460
Accounts payable
9,630
9,840
Accruals
1,070
3,690
Total current liabilities
13,910
15,990
Long-term debt
25,680
25,830
Common stock
22,470
28,290
Capital surplus
5,350
7,380
Retained earnings
39,590
45,510
Total liabilities and equity
107,000
123,000
Additional Data from Company Income Statement(s):
Sales in Year 2
246,000
Net income in Year 2
4,920
Depreciation expense in Year 1
8,560
Depreciation expense in Year 2
11,070
No long-term assets were sold in either Year 1 or Year 2
28. What did StepCurry, Incorporated report as Net Cash Flow from Operating Activities for Year 2?
29. What did StepCurry, Incorporated report as Net Cash Flow from Investing Activities for Year 2?
30. What did StepCurry, Incorporated report as Net Cash Flow from Financing Activities for Year 2?
Transcribed Image Text:USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS StepCurry, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 2,140 2,460 Accounts receivable 12,840 13,530 Inventory 20,330 24,600 Total current assets 35,310 40,590 Net fixed assets* 71,690 82,410 Total assets 107,000 123,000 Notes payable 3,210 2,460 Accounts payable 9,630 9,840 Accruals 1,070 3,690 Total current liabilities 13,910 15,990 Long-term debt 25,680 25,830 Common stock 22,470 28,290 Capital surplus 5,350 7,380 Retained earnings 39,590 45,510 Total liabilities and equity 107,000 123,000 Additional Data from Company Income Statement(s): Sales in Year 2 246,000 Net income in Year 2 4,920 Depreciation expense in Year 1 8,560 Depreciation expense in Year 2 11,070 No long-term assets were sold in either Year 1 or Year 2 28. What did StepCurry, Incorporated report as Net Cash Flow from Operating Activities for Year 2? 29. What did StepCurry, Incorporated report as Net Cash Flow from Investing Activities for Year 2? 30. What did StepCurry, Incorporated report as Net Cash Flow from Financing Activities for Year 2?
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