Operating Activities Analysis Exercises and Problems

Operating Activities Analysis Exercises and Problems

Instructions/Descriptions

Operating Activities Analysis Exercises and Problems

prepare a statement of cash flows

OPTION #1: OPERATING ACTIVITIES ANALYSIS EXERCISES AND PROBLEMS

Using the financial data below, prepare a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method.

Summer Peebles, Inc.
Income Statement Year Ending December 31, 2014

Sales

$1,000.00

Cost of Goods Sold

-$650.00

Depreciation Expense

-$100.00

Sales and General Expense

-$100.00

Interest Expense

-$50.00

Income Tax Expense

-$40.00

Net Income

$60.00

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Summer Peebles, Inc.
Balance Sheets as of December 31, 2013 and 2014

Assets

2013

2014

Cash

$50.00

$60.00

Accounts Receivable, Net

$500.00

$520.00

Inventory

$750.00

$770.00

Current Assets

$1,300.00

$1,350.00

Fixed Assets, Net

$500.00

$550.00

Total Assets

$1,800.00

$1,900.00

Liabilities and Equity

Notes Payable to Banks

$100.00

$75.00

Accounts Payable

$590.00

$615.00

Interest Payable

$10.00

$20.00

Current Liabilities

$700.00

$710.00

Long-Term Debt

$300.00

$350.00

Deferred Income Tax

$300.00

$310.00

Capital Sto[Order Now]ck

$400.00

$400.00

Financial Management in the Healthcare System Discussion

Many companies post their financial statements and auditor’s report on their home pages, generally under a heading labeled “investor relations.” Use one of the Internet search engines to do the following:

1. Visit Intel’s (www.intel.com) and Microsoft’s (www.microsoft.com) home pages and review their financial statements, including their auditors’ reports.
2. Search the web for the home page of a non-U.S. company and review its financial statements, including its auditor’s report. For example, BMW’s home page (www.bmwgroup.com )under Investor Relations) allows a visitor to download the financial statements and accompanying audit report as a .pdf file. Identify the auditing standards followed by the company’s auditors.  Include the website link or .pdf with your submission.
3. Compare the standard U.S. audit report with the audit report for the non-U.S. company (e.g., BMW). Note that in some cases, non-U.S.-based companies’ reports use a U.S. audit report.
4. Visit the SEC’s website (www.sec.gov), and find the link for Edgar Scan. Find, download, and save as a .pdf the auditor’s report for a U.S. company of your choice. Identify whether or not the audit report is an unqualified, or “clean,” opinion and explain how you could tell.  Include the .pdf with your submission.

Please include the links to the financial statements you use.  Points will be deducted for poor grammar and misspelled words.

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**Discussion means discussion!  More is expected from a discussion question than a few brief sentences.  Be sure to fully discuss the topic.  Three points will only be awarded for submissions that fully address each topic.

Operating Activities Analysis Exercises and Problems

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