question archive Canada Statement of Cash Flows For the Year Ended December 31, 2020 NITRO INC SABLE CORP Operating activities: Net income $ 139,000 $ 72,000 49
Canada Statement of Cash Flows For the Year Ended December 31, 2020 NITRO INC SABLE CORP Operating activities: Net income $ 139,000 $ 72,000 49
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Canada Statement of Cash Flows For the Year Ended December 31, 2020 NITRO INC SABLE CORP Operating activities: Net income $ 139,000 $ 72,000 49.000 18.000 90.000 90.000 ( 78,000) (73,000 10.000 8.000 (68,000) (65.000 Adjustments for non-cash items Net cash provided by operating activities Investing activities: Purchase of property, plant, and equipment Sale of property, plant, and equipment Net cash used for investing activities Financing activities: issuance of short-term notes payable Payment of short-term notes payable Payment of dividends Net cash provided by (used) financing activities Increase (decrease) in cash Cash balance at beginning of year Cash balance at end of year 95,000 20,000 (55,000) (15,000) 30,000 (8.000) 10.000 (3.000 32,000 22,000 18.000 28.000 $50.000 S 50.000 ANSWER EACH OF THE FOLLOWING QUESTIONS. READ ALL AVAILABLE CHOICES CAREFULLY years ended December 31, 2020 and 2019 mecome income statement and balance sheet for Hot Rolled Corporation to 2020 2019 Kash $10,000 5.15.000 Net accounts receivable 30,000 27,000 Inventory 45,000 38,000 Prepaid expenses 3,000 7,000 Total current assets 88,000 87,000 Total non-current assets 112.000 114,000 Total current liabilities 70,000 60.000 Total non current liabilities 40,000 45,000 Common shares 60,000 60,000 Retained earnings 30,000 36,000 Net credit sales 370,000 333,000 Cost of goods sold 150,000 160,000 Gross margin 220.000 173,000 Income from operations 95,000 87000 interest expense 8,000 8,000 Net income 70,000 57.000 10,000 shares of common shares have been issued and outstanding since the company was established. They had a market value of on on December 31, 2019, and they were selling for $9150 on December 31, 2020. Refer to the table above. The inventory turnover for Hot Rolled Corporation for the year ended December 31, 2020, was Net accounts receivable 30,000 25,000 Inventory 43.000 40,000 Prepaid expenses 5,000 7,000 Total current assets 88,000 87,000 Total non-current assets 112,000 114,000 Total current liabilities 70,000 60,000 Total non-current liabilities 30,000 45,000 Common shares 70,000 60,000 Retained earnings 30,000 36,000 Net credit sales 370,000 333,000 cost of goods sold 150,000 160,000 Gross margin 220,000 173,000 Income from operations 95,000 87,000 Interest expense 8,000 8,000 Net income 70,000 57,000 10,000 shares of common shares have been issued and outstanding since the company was established. They had a market value of 590 on December 31, 2019, and they were selling for $91 50 on December 31, 2020, Refer to the table above. The debt ratio for Hot Rolled Corporation on December 31, 2020, was Select one A. 0.55 © B: 182 0.67 D. 0.50
