文档介绍：Chapter 2: Accounting Statements and Cash Flow

Assets
Current assets
Cash
$ 4,000
Accounts receivable
8,000
Total current assets
$ 12,000
Fixed assets
Machinery
$ 34,000
Patents
82,000
Total fixed assets
$116,000
Total assets
$128,000
Liabilities and equity
Current liabilities
Accounts payable
$ 6,000
Taxes payable
2,000
Total current liabilities
$ 8,000
Long-term liabilities
Bonds payable
$7,000
Stockholders equity
Common stock ($100 par)
$ 88,000
Capital surplus
19,000
Retained earnings
6,000
Total stockholders equity
$113,000
Total liabilities and equity
$128,000

One year ago
Today
Long-term debt
$50,000,000
$50,000,000
Preferred stock
30,000,000
30,000,000
Common stock
100,000,000
110,000,000
Retained earnings
20,000,000
22,000,000
Total
$200,000,000
$212,000,000

Total Cash Flow of
the Stancil Company
Cash flows from the firm
Capital spending
$(1,000)
Additions to working capital
(4,000)
Total
$(5,000)
Cash flows to investors of the firm
Short-term debt
$(6,000)
Long-term debt
(20,000)
Equity (Dividend - Financing)
21,000
Total
$(5,000)
[Note: This table isn’t the Statement of Cash Flows, which is only covered in Appendix 2B, since the latter has the change in cash (on the balance sheet) as a final entry.]
a. The changes in net working capital can be computed from:
Sources of net working capital
Net income
$100
Depreciation
50
Increases in long-term debt
75
Total sources
$225
Uses of net working capital
Dividends
$50
Increases in fixed assets*
150
Total uses
$200
Additions to net working capital
$25
*Includes $50 of depreciation.
b.
Cash flow from the firm
Operating cash flow
$150
Capital spending
(150)
Additions to net working capital
(25)
Total
$(25)
Cash flow to the investors
Debt
$(75)
Equity
50
Total
$(25)
Chapter 3: Financial Ma