Cash flow statement
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Prepare a Sources-and-uses-of-cash Statement.
?Explain what conclusions you are able to make regarding the cash position of this firm after reviewing the information you prepared.
S/B CORPORATION
Balance Sheet
December 31, 20X2
(in thousands)
20X2 20X1
Assets
Cash . . . . . . . . . . . . . . . . . . . . . . . . .. . . $ 388 $ 375
Accounts receivable . . . . . . . . . . . . . . . . . 1,470 1,219
Inventories . . . . . . . . . . . . . . . . . . . . . . . . 2,663 2,777
Net fixed assets . . . . . . . . . . . . . . . . . . . . . 9,314 9,225
Total assets . . . . . . . . . . . . . . . . . . . . . .. $13,835 $13,596
Liabilities and Equity
Accounts payable . . . . . . . . . . . . . . . . . . . . . $ 282 $ 259
Bank loan payable . . . . . . . . . . . . . . . . . . . . 1,300 924
Taxes payable . . . . . . . . . . . . . . . . . . . . . . . (33) 99
Accrued expenses payable . . . . . . . . . . ............ . . 95 106
Mortgage . . . . . . . . . . . . . . . . . . . . . . .. . . 4,000 4,000
Common stock . . . . . . . . . . . . . . . . . . . . . . 4,000 4,000
Retained earnings . . . . . . . . . . . . . . . . . . . . 4,191 4,208
Total liabilities and equity . . . . . . . . . . . . . ...$13,835 $13,596
S/B CORPORATION
Income Statement
20X2
(in thousands)
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,030
Cost of goods sold:
Materials . ... . . . . . . . . . . . . . . . . . . . . . . . . . . 652
Overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . ... 50
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264
Selling and administrative costs . . . . . . . . . . . . . . . . . . . 98
Profit before taxess . . . . . . . . . . . . . . . . . . . . . . . . . 166
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
Net profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $83
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 100
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