| 1. Use the below information to answer the following questions: | ||
| 2007 | 2008 | |
| Sales | $2,870 | $3,080 |
| Depreciation | 413 | 413 |
| Cost of goods sold | 987 | 1121 |
| Other Expenses | 238 | 196 |
| Interest | 192 | 221 |
| Cash | 1505 | 1539 |
| Accounts Receivables | 1992 | 2244 |
| Short-term Notes Payable | 291 | 273 |
| Long-term debt | 5040 | 5880 |
| Net fixed assets | 12,621 | 12,922 |
| Accounts Payable | 1581 | 1533 |
| Tax rate | 34% | 34% |
| Inventory | 3542 | 3640 |
| *Payout ratio | 52% | 52% |
A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).
B. Create the Balance Sheets for 2007 & 2008. Remember that the Owner’s Equity section. A+L+OE, so OE=total A – total L.
C. Create the statement of Cash Flows for 2008.
D. What is the CFFA for 2008?
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