cashflow with sojhhlutions

8/20/2019 CashFlow With Sojhhlutions

1/83

Acct 592 – Spring 2005

The Statement ofCash Flows

Purpose of a statement of cash flows:

To provide information about the cash inows and outows of an entityduring a period.

To summarize the operating, investing, and nancing activities of thebusiness.

The cash ow statement helps users to assess a company’s

liquidity, nancial exibility, operating capabilities, and ris.The statement of cash ows is useful because it providesanswers to the following important questions!

Where did cash come from?

What was cash used for?

What was the change in the cash balance?

"pecically, the information in a statement of cash ows, if

used with information in the other nancial statements,helps external users to assess!

#. $ company’s ability to generate positive future netcash ows,

%. $ company’s ability to meet its obligations and paydividends,

&. $ company’s need for external nancing,

'. The reasons for di(erences between a company’s netincome and associated cash receipts and payments,

and

). *oth the cash and noncash aspects of a company’snancing and investing transactions.

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What can we learn from SCF that is not already available in

the other financial statements?

It provides answers to important questions like:+here did cash come from

+hat was cash used for+hat was the change in the cash balance

Couldn’t we just look the balance sheet?

The change in cash could be determined, but the statementof cash ows provides detailed information about acompany’s cash receipts and cash payments during theperiod.

Many things you want to know about a company is summarized in this onestatement

-perating, nancing and investing cash ows

et income does not always tell the whole story aboutoperating performance.

$ statement of cash ows is an excellent forecasting tool.

Review of terms

/ash and cash equivalents

It is a short-term highly li!uid in"estment#

It must be readily con"ertible to cash and it must be so near to maturity thatthere is insignificant risks of changes in "alue due to changes in interest rate#



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Noncash revenues and expenses

Net incoe inc!"de# ite# t$at %ere neit$er ca#$ in&!o% nor ca#$ o"t&!o%#'

(epreciation e)pen#eAccretion e)pen#e on a##et retireent ob!igation

Aorti*ation o& intangib!e#+pairent !o## on good%i!! and intangib!e#,arning# o& a&&i!iated copanie# acco"nted &or "#ing t$e e-"ity et$od+pairent !o##e# on ot$er nonc"rrent a##et#open#ation e)pen#e re!ated to #toc option#

Net incoe a!#o inc!"de# gain# and !o##e# &ro ine#ting and &inancing actiitie#Gain ca#$ receied "n!e## carrying a!"e %a# *ero,en %$en t$ere i# a !o##4 ca#$ ig$t $ae been receied

Net incoe "#t be ad"#ted &or t$e#e ite# to get t$e ca#$ proided by operation# – part o& t$e reconci!ing

#c$ed"!e or indirect et$od

8or ot$er ite#4 t$ere are reen"e#/e)pen#e# a# %e!! a# ca#$ &!o%# b"t t$e ao"nt# are di&&erent'

ond intere#t e)pen#e bond intere#t paid i& bond# %ere #o!d at prei" or di#co"ntSa!e# %ere not a!! co!!ected in ca#$ bad debt#4 ot$er c$ange# in Acco"nt# :eceiab!eP"rc$a#e# %ere not nece##ari!y paid &or d"ring period c$ange in Acco"nt# Payab!e+ncoe ta) e)pen#e incoe ta)e# paid d"e to de&erred ta) a##et#/!iabi!itie# a# %e!! a# incoe ta)e#

re&"nd# receiab!e or "npaid ta)e# o%ed



4/83

Acct 592 – Spring 2005opany4 +nc.

Stateent o& a#$ 8!o%#8or t$e year ended (eceber 314 199;

a#$ 8!o%# &ro /or ,-"ity

@iabi!itie# >/or ,-"ity &or A##et#@iabi!itie# &or ,-"ity and ,-"ity &or @iabi!itie#apita! !ea#e ac-"i#ition o& a##et and ob!igation &or !e##ee

A reconci!iation o& net incoe to ca#$ proided by operation#

=racet# indicate ite# t$at are nora!!y cobined

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Operating Activities

(Usually associated with working capital accounts like ccountsreceiva!le" inventory" salaries paya!le" etc#$

Inflows$

From sale of goods and servicesFrom receiving dividends investments

From receiving interest from investments or loans

From sale of trading securities

From reduced income ta%es due to &e%cess ta% deduction' related tostock options

%utflows$

To suppliers for inventory and other materials

To employees for services

To other entities for services (insurance" etc#$

To government for ta%es

To lenders for interest

To purchase trading securities

+ntere#t e)pen#e i# an operating iteB +ne#tent earning# diidend# > intere#t i# an operating iteB"ying and #e!!ing trading #ec"ritie# are operating actiitie#B T$e#e t$ing# ay not ae #en#e to yo" – #oeori*e.



6/83


Investing Activities

(Usually associated with longterm assets$

Inflows$

From sale of property" plant and equipment

From sale of de!t or equity investments of other entities)

From collections of principal on loans to other entities

%utflows$

To purchase property" plant and equipment

To purchase de!t or equity securities of other entities

To make loans to other entities

=e)cept ine#tent# c!a##i&ied a# trading #ec"ritie# %$ic$ are inc!"ded in operating actiitie#



7/83


Financing Activities

(Usually associated with longterm lia!ility and equity items$

Inflows$

From issuance of de!t (!onds and notes$

From issuance of equity securities

Common stockPreferred stockRe-issuance of treasury stock

%utflows$

To stockholders as dividends

To repay or retire longterm de!t" including capital leasesfor lessee (interest on leases is classi*ed as operating$

To reacquire capital stock (treasury stock$

An “anomaly” on SCF

0ividends are paid to stocholders and interest is paid tobondholders.

0ividends paid are shown as outows under nancing

activities1owever, 2$"* dened interest expense to be an operatingactivity

3nterest 4 dividend revenue are dened to be operatingactivities, too.



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Direct versus Indirect Presentations

2$"* "tatement o. 5) allows two ways to calculate andreport a company’s net cash ow from operating activities onits statement of cash ows.

The Direct Method

6nder the direct method, operating cash outows arededucted from operating cash inows to determine the netcash ow from operating activities.

If you choose the direct method a reconciliation of cash pro"ided byoperations to net income is a re!uired disclosure#

&his is the same schedule that appears in a statement prepared using theindirect method

&he re!uired information items on a direct method statement of cash flow 'per()*+,

-perating 3nows

Cash collected from customers (including lessees, tenants, licensees,and the like)

Interest and dividends received

Other operating cash receipts, if any-perating outows

Cash paid to employees and other suppliers of goods or services(including insurance, advertising and the like)

Interest paid

Income taxes paid

Other operating cash payments, if any

The Indirect Method

6nder the indirect method, net income is ad7usted fornoncash items related to operations to compute the net cashow from operating activities.

If you choose to use the indirect method you must also disclose interest paidand income taes paid during the year#

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Other disclosures

6nder both methods 8direct 4 indirect9, you must disclosenoncash nancing and investing activities

&his can be on face of the statement or in the notes to the financial statements#

.amples$Trade common stoc for land

/onvertible bonds converted to common stoc

Noncash Items

"ome nancing and investing activities do not a(ect anentity’s cash ow.

.amples$

Trade common stoc for land

3ssue bonds in exchange for a building

/onvertible bonds converted to common stoc

"ignicant transactions should be disclosed separately.

The disclosure of signicant noncash nancing and investingactivities are required under both methods 8direct 4 indirect9

The disclosure can be on face of the statement or in the

notes to the nancial statements.

Theoretical Considerations

The direct method has the advantage of reporting operating cash in+ows separately fromoperating cash out+ows" which may !e useful in estimating future cash +ows#

The direct method is more meaningful to most *nancial statement users and the &tie in' to netincome is also provided in a separate schedule which is the same as the indirect methodpresentation#

Under the indirect method" ad,ustments are made to net income to arrive at cash +ow from

operating activities# Thus" cash from operating activities is &tied' to net income#

n advantage of the indirect method is that income +ows are converted from an accrual !asis toa cash +ow !asis# In this manner" the indirect method shows the &quality of earnings' !yproviding information a!out intervals of leads and lags !etween income +ows and operating cash+ows#



10/83

Acct 592 – Spring 2005Example 1 - Statement of Cash Flow – DIRECT METHOD

:earending

:earending

;alouse ;ottery #%


11/83

Acct 592 – Spring 2005Example 1 - Statement of Cash Flow – INDIRECT METHOD

:earending

:earending

;alouse ;ottery #%


12/83

Acct 592 – Spring 2005c. (ec!ared a ca#$ diidend o& E134000 g. +##"ed coon #toc &or E54000 ca#$.

Example 2 - Statement of Cash Flow

:earending

:earending

Aoscow Aoving 4 "torage #%5O?2) (O@4>5O?2)

%perating )cti"ities

In"esting )cti"ities

(inancing )cti"ities

9oncash (inancing7In"esting

C


13/83


Reconclaton of Net Income to Cash !"o#$e$ %& Ope"atons

o" – 'the In$"ect Metho$(

xample %Moscow Mo"ing = *torage

2tatement of Cash >lo* ?orksheetReconciliation 2chedule (Indirect method) Ref =et income

Cash provided y operations



14/83


,)ap!e 3Aery S!ing# > Arro%#4 +nc.

'very 2lings / 'rro*sIncome 2tatement

>or year ending %88"$

2ales .,."","""arnings of affiliates (e0uity method) !","""Reali9ed loss on sale of e0uipment (.!,""")Reali9ed gain on sale of investments !,"""Interest and dividend revenue !,"""

4otal revenues .,&!,"""

Cost of goods sold ,$3","""2alaries and *ages .%,"""Other operating expenses $%,""";ad det expense $!,"""1epreciation expense &!&,"""

'morti9ation of intangiles !,"""

'ccretion expense %!,"""Interest expense 3!,"""Income tax expense &&,""" .,$&,"""=et income %..,"""

Prepare a #tateent o& ca#$ &!o%# direct et$od inc!"ding t$e re-"ired reconci!ing #c$ed"!e and any ot$er re-"ired

di#c!o#"re# &or Aery S!ing# > Arro%#4 +nc. +n&oration &ro t$e ba!ance #$eet and incoe #tateent $ae been

entered into a %or#$eet &or yo"r conenience. +n addition to cop!eting t$e %or#$eet4 yo" HST prepare a &ora!

#tateent %it$ $eading#4 #"btota!#4 etc. &or &"!! credit.

A((+T+


15/83


)"ery *lings = )rrows;alance 2heet

0/7 0/7


16/83


'ccounts receivale (net) ,3"",""" ,3$&,""" $&,""

+erchandise Inventory 3"",""" ."%,""" (%3,""

Prepaid xpenses !",""" $,""" ($.,""

Investments in affiliatedcompanies (e0uity method)

%,""",""" %,%,""" %,""

5and, uilding / e0uipment&,"",""" %",&!,""" %,3!,""

'ccumulated 1epreciation (,"",""") (%,,""") (,""

Intangile 'ssets &,""" !.,""" $3!,""

4otal assets %,&,""" %.,%3!,"""

'ccounts Payale (.!",""") ($&,""") ",""

2alaries Payale (%,""") (,""") ,""

Interest payale (!!,""") (!.,""") (",""

Income 4axes Payale (%,""") ($!,""") (,""

1ividends Payale (.",""") (%,""") (.,""

;onds Payale ($,""",""") (&,""",""") (,""",""

(Premium)81iscount on ;ondsPayale

(.!.,""") (.$%,""") $,""

Convertile ;onds Payale (,""",""") (,!"",""") ,!"",""

5ease oligation (,%!,""") (%,",""") (%,""

'sset retirement oligation (%!",""") (%&!,""") (%!,""

1eferred Income 4axes (&!,""") (%%,""") ($&,""

Other long term liailities (%,!3",""") (!3",""") %,""",""



17/83


)"ery *lings = )rrows @ear ending @ear ending

0/72 invest ",""" (%&,""") ("&,""

4reasury stock (at cost) ",""" ,""" %,""

Other paid in capital " (,""") (,""

Retained arnings (.,$3,""") ($,&%,""") ,$&,""

(%,&,""") (%.,%3!,""")

Closing entry for /22> /22

6e"enue7'.pense,

Ref Ref%perating Cash Inflow

'%utflows,

2ales .,."","""

arnings of affiliated companies !","""

7ain8(loss) on sale of e0uipment (.!,""")

7ain8(loss) sale of patent "

Reali9ed gain8(loss) sale of land "Reali9ed gain8(loss) oninvestments !,"""

Interest and dividend revenue !,"""

Cost of goods sold (,$3",""")

2alaries and *ages (.%,""")

Other operating expenses ($%,""")

;ad det expense ($!,""")

1epreciation expense (&!&,""")

'morti9ation of intangiles (!,""")

'ccretion expense (%!,""")

Interest expense (3!,""")

Income taxes expense (&&,""")

9et income 'accrual basis, %..,"""



18/83


)"ery *lings = )rrows I9(:%W* %;&(:%W*

Cash provided y operationsD

Reconciling scheduleD

=et income %..,"""

Cash provided y operations


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19/83


)"ery *lings = )rrows I9(:%W* %;&(:%W*



C


20/83


)"ery *lings = )rrows*tatement of Cash (lows

(or year ended 8ecember

Inflows %utflows 9et

Cash pro"ided by operations

Cash collected from customers .,!","""

Interest / dividends received $$,"""

Cash paid for merchandise (,$3!,""")

Cash paid to employees (.!,""")

Other operating disursements (&!,""")

Interest paid ($,""")

Income taxes paid (&,""")

.,!!%,""" (!,$&",""") ,"%,"""

Cash pro"ided by in"esting acti"ities

Proceeds from sale of e0uipment !3,"""

Cash outlay to ac0uire e0uipment (%,&.&,""")

Cash outlay to ac0uire patent (!"",""")

Proceeds from sale of securities %&!,"""

Cash outlay to uy securities (%&,""")

$,""" (,!$",""") (,%".,""")

Cash pro"ided by financing acti"ities

1ividends paid (!,""")

2old treasury stock %,"""

Purchased treasury stock (,""")

Payments on long term det (%,""",""")

Payments on capital leases (.!,""")

Common stock issued ,"!","""

Proceeds from issuing nonconvertile onds ,""","""

$,"&,""" (%,!,""") ,!!,"""

Change in cash (!3,""")

;eginning alance - Cash %,!","""

nding alance - Cash %,%.,"""



21/83


)"ery *lings = )rrows*tatement of Cash (lows

(or year ended 8ecember

9on-cash financing and in"esting acti"ities

Capital lease .$,"""

Preferred onds converted to common stock ,!"","""

*chedule to reconcile net income to cash pro"ided by operations

=et Income %..,"""

1epreciation &!&,"""

'morti9ation / impairment of intangiles !,"""

'ccretion expense %!,"""

'morti9ation of ond premium ($,""")

Reali9ed loss on sale of e0uipment .!,"""

Reali9ed gain on sale of investments (!,""")

0uity method investments : earnings in excess of dividends (%,""")

Increase in deferred income taxes $&,"""

Change in working capital accounts$

=et accounts receivale ($&,""")

+erchandise Inventory %3,"""

Prepaid xpenses $.,"""

'ccounts Payale (",""")

2alaries Payale (,""")

Interest Payale ","""

Income 4axes Payale ,"""

Cash provided y operationsD ,"%,"""



22/83


$cct. &=# B "tatement of /ash 2lows B 1omewor '+enatchee +hirlpool +orld

-alance Sheet#%epreciation (/.4"333$ (233"333$Intangi!le ssets 15"633 5./"333

T-T$C $""DT" .9"/91"233 5/".36"333

/urrent Ciabilitiesccounts aya!le //3"333 163"333Salaries aya!le .3"333 56"333Income Ta%es aya!le 50"933 .1"333>ividends aya!le 06"333 23"333Current portion long term de!t .4"333 .5"333

411"933 /10"333oncurrent Ciabilities-onds aya!le 53"333"333 6"333"333>iscount on -onds (.91"333$ (.13"333$>eferred Income Ta%es 5/3"333 //"333

;ther long term lia!ilities 62."333 0"333"33353"946"333 1"/5/"333

"tocholderEs DquityConverti!le preferred" ?533 par 633"333 ."333"333Common stock" ?53 par 0"533"333 5"633"333dditional paid in capital 0"463"333 5".33"333Unreali@ed (gain$Aloss investments .1"333 1/"3337etained


23/83


Benatchee Bhirlpool BorldIncome Statement

For year ending 5.A05A42

Sales 2".33"333epreciation = amorti@ation e%pense .63"633Interest e%pense 224"933Income ta%es e%pense 193"933 2".00"/33

Eet income 5"55.".33

Additiona! in&oration'

a.


24/83


1omewor ' B $cct )Borksheet :ear

ending :ear

endingBenatchee Bhirlpool Borld #%epreciation (233"333$ (/.4"333$ (..4"333

Intangi!le ssets 5./"333 15"633 (62"633

#F,%=),===

%',F'@,>==

ccounts aya!le (163"333$ (//3"333$ (503"333

Salaries aya!le (56"333$ (.3"333$ (6"333

Income Ta%es aya!le (.1"333$ (50"933$ 50"23

>ividends aya!le (23"333$ (06"333$ .6"33

Current portion long term de!t (.5"333$ (.4"333$ (/"333

-onds aya!le (6"333"333$ (53"333"333$

(6"333"33

remiumA>iscount on -ondsaya!le

.13"333 .91"333 (.0"333

>eferred Income Ta%es (//"333$ (5/3"333$ (4."333

;ther long term lia!ilities (0"333"333$ (62."333$ ."90/"33



25/83


Denatc$ee D$ir!poo! Dor!d

#% #55>

?evepreciation e%pense (.99"333$

morti@ation of intangi!le assets (2"633$

Interest e%pense (224"933$

Income ta%es e%pense (193"933$

Net income (accrual basis) 5"55.".33



26/83



Statement of Cash Flows 32C-+" -6T2C-+" 8"ubtotals9

-perating $ctivities

3nvesting $ctivities

2inancing $ctivities

oncash 2inancing


27/83


Statement of Cash Flow – Easy Practice Problems 5 & 65. )llman Compan&

Prepare a #tateent o& ca#$ &!o% – direct et$od inc!"ding t$e reconci!iation #c$ed"!e. o#tin&oration i# proided on t$e attac$ed %orpaper.

Additiona! in&oration'a. (iidend# dec!ared and paid tota!ed E700. b.


28/83


5.


29/83


5. H!!ian opany4 contin"ed*tatement of Cash (lows I=>5O?2 O@4>5O?2 2utotals


Reconciliation 2cheduleD




C


30/83


6. Koe%or Prob!e – (ri#o!! opany8riskoll Company Eear ending ?orksheet Eear ending

%8833 Ref 1eit Ref Credit %8833 4arget

Cash %,&"" ,!%" %"

'ccounts receivale (net) !,3"" .,%! !Inventories !,"" !,!" %"Prepaid xpenses ,$"" ,""" ($"")Investments (long-term) ,"" &,"" (,""")5and .,"" 3,""" %,&"";uildings .,&"" .",&"" (,""")

'ccBd depreciation - ;ldg (!,""") ($,!"") !""0uipment %3,."" %!,."" ($,""")

'ccBd depreciation - 0uip ($,%"") ($,&"") (!"")Patents ,&"" 3,! $!

"&,&"" 3,!"

'ccounts Payale (,3"") (3,3!) (%3!)Interest payale (.") ("") "

?ages payale (%,!"") (%,."") ("");onds payale (%,""") (&,""") .,"""1iscount on onds " &! &!Common stock, 6" par (%%,""") (%%,.!") (.!")

'dditional paid in capital (!,%") (!,3&") (.!")@nreali9ed (gain)8lossinvestments

" " "

Retained arnings (!,!") (,!") ,!""("&,&"") (3,!")

ok okClosing entry for 0555 0555

Rev8(xp) Receipt8(1is)2ales $3,!!"7ain8(loss) on exchange of assets ,""Reali9ed gain8(loss) oninvestments

(%"")

Interest and dividend revenue &3"Cost of goods sold (%,"")2alaries / other operatingexpenses

(.,!")

Other operating expense (,"")1epreciation - uildings (%,&"")1epreciation - e0uipment (,"")Patent amorti9ation (!)Interest expense (,&!)

Income taxes expense (!"")xtraordinary loss (net of taxes) (%,."")

=et income (accrual asis) (,$"")



31/83


6. (ri#o!! opany4 contin"ed*tatement of Cash (lows I=>5O?2 O@4>5O?2 2utotals


Reconciliation 2cheduleD




C


32/83


,* Statement of Cash Flow !"o%lem

&ro &ina! e)a4 Spring 199C$lbion $ltimeters 3nc.

-alance Sheet #%epreciation (066"333$

T-T$C $""DT" 2".99"/33

/urrent Ciabilitiesccounts aya!le 950"333

Salaries aya!le 1".33

Income Ta%es aya!le .0"633

>ividends aya!le 3

990"133

oncurrent Ciabilities

-onds aya!le 5"333"333

remiumA>iscount on -onds aya!le 55/"333

>eferred Income Ta%es 530"133

5"..5"133

"tocholderEs Dquity

Common stock" ?53 par 5"653"333

dditional paid in capital 5"41."333

ccGd other comprehensive income) 50"333

7etained epreciation = amorti@ation e%pense 03"333

Interest e%pense /1"133

Income ta%es e%pense 5/3".33

Eet income

Re."e$/H#e t$e additiona! in&oration be!o% and t$e%or#$eet proided to prepare t$e #tateent o& ca#$&!o% "#ing t$e direct et$od. 8or &"!! credit4 "#e t$e page# proided to prepare t$e &ora! #tateent inaddition to t$e %or#$eet.

0$$tonal nfo"maton/

a. AA dec!ared diidend# o& E754000 on J"ne 3041997.

b.


33/83

,* Statement of Cash Flow !"o%lem

Dor#$eet ea" en$n ea" en$n

0l%on 0ltmete"s Inc* 12341356 Ref De%t Ref C"e$t 1234135, Ta"et

a#$ 004000 C94C00 3104200 C94C00

Sec"ritie# Aai!ab!e &or Sa!e at aret 5004000 141124000 6124000

Acco"nt# :eceiab!e 9004000 7C14000 1194000

A!!o%ance &or do"bt&"! acco"nt# 274000 334200 64200

erc$andi#e +nentory C504000 C294000 214000

Prepaid e-"ipent 14CC04000 345624000 146C24000

Acc""!ated (epreciation 3504000 3554000 54000

781,98::: 6827789::

Acco"nt# Payab!e 3504000 134000 634000

Sa!arie# Payab!e C4500 74200 14300

+ncoe Ta)e# Payab!e 274000 234500 34500

(iidend# Payab!e 254000 0 254000

ond# Payab!e 140004000 140004000 0

Prei"/(i#co"nt on ond# Payab!e 124000 11C4000 64000

(e&erred +ncoe Ta)e# CC4000 1034700 154700

oon #toc4 E10 par 140004000 145104000 5104000

Additiona! paid in capita! 7004000 149724000 142724000

AccLd ot$er copre$en#ie incoe 14000 134000 274000

:etained ,arning# C694500 140C400 214900

0 417C4000 6424C00 240664C00

!o#ing entry &or 1997 Re#3;Exp< Ref De%t Ref C"e$t Recept3;Ds%<

Sa!e# 346004000

Gain/!o## on #a!e o& PP>, 304000

+ntere#t and diidend reen"e 154000

o#t o& good# #o!d 241004000

Sa!arie# and %age# 6504000


34/83

7. A!bion A!tieter#Stateent o& a#$ 8!o%# INF=O>S O)TF=O>S ;S.%totals<

Ope"atn 0ct#tes

In#estn 0ct#tes

Fnancn 0ct#tes

Noncash Fnancn3In#estn

KANG, +N ASK C94C00

Tota!#


35/83

0l%on 0ltmete"s

Stateent o& a#$ 8!o%8or year ended 12F31F97

a#$ proided by operation#

a#$ proided by ine#ting actiitie#

a#$ proided by &inancing actiitie#


36/83

0l%on 0ltmete"s


:econci!ing #c$ed"!e

Note#'


37/83

Acct 315 - Statement of Cash Flow

Homework Problem # 8

Inst".ctons/

Prepare t$e #tateent o& ca#$ &!o% &or ,ndicott ,ngine# +nc. attac$ed "#ing t$e direct et$od.S$o% a!! yo"r %or on c!ear!y !abe!ed and %e!!Forgani*ed %or#$eet proided or e-"ia!ent printo"t. @abe! yo"r %or and an#%er# c!ear!y. Mo" "#t #"bit a %or#$eet i& yo" %ant e to be ab!e to &o!!o% yo"r t$o"g$t proce## in ca#e yo"r an#%er i# %rong. +& t$e prob!e doe#ntba!ance4 yo" ay p!"g #oet$ing c!ear!y !abe!ed a# a p!"g and #ti!! obtain o#t o& t$eaai!ab!e point#. +& yo" are "#ing #pread#$eet #o&t%are4 p!ea#e e)p!ain yo"r cop"tation# #ince +cannot te!! %$at &or"!a# yo" incorporated into t$e ce!!# &ro !ooing at t$e printo"t. T$e ,)ce!%or#$eet i# aai!ab!e on t$e co"r#e %eb page' $ttp'//%%%.acadeic."ida$o.ed"/Acct301.

N


38/83

,ndicott ,ngine# +nc.

0$$tonal nfo"maton/

a.


39/83

En$cott Ennes Inc*

a!ance S$eet 123413:2 123413:1

C.""ent 0ssets

a#$ 1430C4200 145004000

Sec"ritie# Aai!ab!e &or Sa!e 5364000 3004000Acco"nt# :eceiab!e 24154000 240004000A!!o%ance &or do"bt&"! acco"nt# 1224200 1104000erc$andi#e +nentory 141654000 9754000Prepaid e-"ipent 174124000 1047004000Acc""!ated (epreciation 934000 7004000

+ntangib!e A##et# 934000 1504000TOT0= 0SSETS 240014000 1743654000

C.""ent =a%ltes

Acco"nt# Payab!e 140504000 C004000Sa!arie# Payab!e 34000 1C4000+ncoe Ta)e# Payab!e 24000 354000(iidend# Payab!e C54000 604000

142024000 9134000

oncurrent Ciabilities

ond# Payab!e 1140004000 540004000(i#co"nt on ond# 2774000 3004000(e&erred +ncoe Ta)e# 124000 904000@ea#e ob!igation# 794000 3234000


40/83


Worksheetea" en$n ea" en$n

,ndicott ,ngine# +nc. 123413:1 Ref De%t Ref C"e$t 123413:2 Ta"

a#$ 145004000 1914C00 1430C4200 19

Sec"ritie# Aai!ab!e &or Sa!e 3004000 5364000 2

Acco"nt# :eceiab!e 240004000 24154000 1

A!!o%ance &or do"bt&"! acco"nt# 1104000 1224200

erc$andi#e +nentory 9754000 141654000 1

Prepaid


41/83

,ndicott ,ngine# +nc.123413:1 Ref De%t Ref C"e$t 123413:2 Ta

S

Ope"atn 0ct#tes

307217295 reated by T. Gordon 3/3/16 Page 1


42/83

In#estn 0ct#tes



43/83


Fnancn 0ct#tes


KANG, +N ASK 1914C00

Tota!#



44/83

Statement of Cash Flow Examples - Sol.tonsDxample # B completedworsheet

:earending

:earending

;alouse ;ottery #%epreciation (/3"333$ ! 4"333 m 55"333 (/."333$ (."333$

%#),=== %@F,===

ccounts aya!le (.0"333$ n /"333 (05"333$ (/"333$

Salaries aya!le (."333$ o 1"333 (4"333$ (1"333$

Interest paya!le (."333$ p 633 (5"633$ 633

Income Ta%es aya!le (5"633$ q 9"333 (6"633$ (9"333$

>ividends aya!le 3 h 6"333 c 50"333 (/"333$ (/"333$

Hong term lia!ilities (.6"333$ e 53"333 (56"333$ 53"333

Common stock" ?5 par (533"333$ g 96"333 (596"333$ (96"333$

7etained


45/83

Solutions for Example Problems

ividends paid (6"333$

Hongterm de!t retired (53"333$

Common stock issued 96"333

Su!totals 96"333 (56"333$ 03"333

Change in cash .1"333

-eginning !alance Cash 56"333


46/83

Dxample # for $cct &=# G 303?D/T ADT1-0 "-C6T3-"tatement of /ash 2low +orsheet

:ear ending :earending

;alouse ;ottery #%ividends aya!le 3 c 6"333 c 50"333 (/"333$ (/"33

Hong term lia!ilities (.6"333$ e 53"333 (56"333$ 53"33

Common stock" ?5 par (533"333$ g 96"333 (596"333$ (96"33

7etained


47/83

Dxample % for $cct &=# B "5@

"tatement of /ash 2low +orsheet

:ear ending :ear ending

Aoscow Aoving 4 "torage #%


48/83

307217295 reated by T. Gordon 3/3/16 Page C


49/83

xample % for 'cct " - 2olutionDMoscow Mo"ing = *torage*tatement of Cash (lows>or year ended -1ec-3&

Inflows %utflows 9etCash pro"ided by operationsCash collected from customers ,"""Interest / dividends received "

Cash paid for merchandise (3,""")Cash paid to employees ($,""")Other operating disursements (",""")Interest paid (,""")Income taxes paid (,""")

2utotals ,""" (.&,""") $,"""

Cash pro"ided by in"esting acti"itiesPurchase plant, property / e0uipment (3,""")

2ale of plant, property / e0uipment $,"""

2ale of land

2utotals $,""" (3,""") (!,""")

Cash pro"ided by financing acti"ities1ividends paid (!,""")

5ong-term det retired (%",""")

Common stock issued .,"""

2utotals .,""" (%!,""") ,"""

Change in cash (",""");eginning alance : Cash !,"""nding alance : Cash !,"""

*chedule to reconcile net income to cash pro"ided by operations

=et Income .,"""1epreciation / amorti9ation !,"""Reali9ed gains8losses PP/ %,"""Change in working capital accounts$=et accounts receivale %,"""+erchandise Inventory (&,""")Prepaid xpenses $,"""

'ccounts Payale ,"""2alaries Payale (%,""")Interest Payale ,"""Cash provided y operationsD $,"""

9on-cash financing and in"esting acti"ities

'c0uired land in exchange for common stock



50/83

,)ap!e 3 – %orpaper #o!"tion$very "lings 4 $rrows :ear

ending :ear

ending

3 #%


51/83

Aery S!ing# > Arro%#Closing entry for %==' 7ef >e!its 7ef Credits %=='

?evepreciation e%pense (161"333$ p 161"333 3

morti@ation of intangi!les (6"333$ p 6"333 3

ccretion e%pense (.6"333$ q .6"333 3

Interest e%pense (406"333$ t 535"333 u 59"333 (/9/"333$

w 91"333Income ta%es e%pense (511"333$ t 50"333 (551"333$

et income 8accrual basis9 .22"333 %>>,=== H #,=F%,=== 5"3/."333

32C-+" -6T2C-+"

Cash provided !y operations: 5"3/."333 5"3/."333

7econciling schedule:

Eet income .22"333

>epreciation 161"333

morti@ation = impairment ofintangi!les

6"333

ccretion e%pense .6"333-ond premiumsAdiscounts (59"333$

7eali@ed gainsAlosses =< 26"333

7eali@ed gainAloss investments (60"333$


52/83

$very "lings 4 $rrows 7ef In+ows 7ef ;ut+ows

3nvesting $ctivities (0".32"333$

urchased =< a ."121"333

urchased marketa!le securities c .10"333

Sold equipment d 64"333

urchased patent I 633"333Sold investments J .16"333

2inancing $ctivities 5"606"333

Issued common stock ! 5"363"333

aid dividends e 506"333

Issued !onds H 0"333"333

Sold treasury stock m .0"333

urchased treasury stock n 0/"333

ayments on capital leases v 026"333ayments on longterm de!t y ."333"333

oncash 2inancing


53/83

Sol.tonExample 7- 0cct 41@


Denatc$ee D$ir!poo! Dor!d 1234135@ Ref De%t Ref C"e$t 12341356 Ta"e

a#$ 240004000 ; C374600 24C374600 C37

o 514000

Sec"ritie# Aai!ab!e &or Sa!e at aret 1504000 + C754000 + 5C4000 3904000 20

p 1204000

Acco"nt# :eceiab!e 149004000 & 2C4000 147524000 1C

A!!o%ance &or do"bt&"! acco"nt# 1104000 & 2C4000 3C4500 1204500 10

erc$andi#e +nentory C754000 p 2704000 14154000 270

Prepaid


54/83


Closing entry for 1556 1556

Re#3;Exp< Recept3;Ds%<

Sa!e# 642004000 p 1204000 643204000

,arning# o& a&&i!iated copany e-"ityet$od

1154000 ! 1154000 0

Gain/!o## on #a!e o& PP>, 04000 c 04000 0

:ea!i*ed gain/!o## on ine#tent# 10C4000 + 10C4000 0

:ea!i*ed gain on #a!e o& patent 9504000 a 9504000 0

+ntere#t and diidend reen"e 134000 1C4000 314000

o#t o& good# #o!d 346004000 p 1304000 p 2704000 34704000

Sa!arie# and %age# 5904000 p 54000 5C54000

S O)TF=O>S ;S.%totals<

Ope"atn 0ct#tes ; 4@:86::

Reconcln sche$.le/

Net +ncoe 141124200

(epreciation > aorti*ation 2504500ond prei"#/di#co"nt# 234000

:ea!i*ed gain#/!o##e# PP>, 04000

:ea!i*ed gain/!o## ine#tent# 10C4000

Gain on #a!e o& patent 9504000

Hndi#trib"ted ,arning# o& +ne#tee# 974000

(e&erred incoe ta)e# 924000

Chane n wo"+n captal acco.nts/

Net acco"nt# receiab!e 15C4500

erc$andi#e +nentory 2704000

Prepaid


55/83

In#estn 0ct#tes

Sa!e o& patent a 140004000

Sa!e o& e-"ipent c 254000

P"rc$a#e &actory g 49004000

P"rc$a#e ine#tent #ec"ritie# + C754000

So!d ine#tent #ec"ritie# + 6924000

Fnancn 0ct#tes

+##"ed bond# b 540004000

+##"ed coon #toc e 240504000

(iidend# paid 754000

@ongFter debt repaid # 24304000


Pre&erred conerted to coon #toc d 145004000 d 145004000

S%ap coon #toc &or !and $ C004000 $ C004000

KANG, +N ASK ; C374600

Tota!# 2542374000 2542374000



56/83

Sol.ton

Doring t$ro"g$ t$e additiona! ite# o& in&oration'

a.


57/83

$. DDD ac-"ired a parce! o& !and adoining t$e ne% &actory by giing t$e o%ner 204000 #$are# o& it# coon#toc. At t$e date o& t$e tran#action4 t$e aret a!"e o& t$e #toc %a# E0 per #$are. The alue of the landi! $800,000 (20,000 # 0)%

P!ant4 property and e-"ipent C004000oon #toc4 E10 par 2004000

Additiona! paid in capita! 6004000i. ("ring t$e year DDD p"rc$a#ed EC754000 in aretab!e #ec"ritie# and #o!d #ec"ritie# %$ic$ $ad co#t

E5C4000. T$e aret a!"e o& t$e port&o!io at t$e end o& t$e year %a# E3904000. rom the income !tatement, the *ain on !ale wa! 108,000% Therefore, the ca!h receied from the !ale of !ecuritie! wa!

58+108 $62,000

+ne#tent# F Sec"ritie# aai!ab!e &or #a!e C754000a#$ O+ne#ting o"t&!o% C754000

a#$ O+ne#ting in&!o% 6924000+ne#tent# F Sec"ritie# aai!ab!e &or #a!e 5C4000Gain on #a!e o& ine#tent# 10C4000

. DDD o%n# 30I o& a copany %$ic$ an"&act"re# part# t$at DDD "#e# in it# prod"ction proce##. DDDreceied E1C4000 in diidend# &ro t$i# partia!!y o%ned copany d"ring 1996% iidend! receied frome.uit'-method ine!tment! reduce the ine!tment account and do /T appear on the income !tatement .

a#$ O


58/83

n. No c$ec# are %ritten to record depreciation e)pen#e and aorti*ation o& intangib!e#.T$ere&ore4 t$e#e acco"nt# need to be *eroed o"t by recon#tr"cting t$e entry t$at recorded t$ee)pen#e#.

(epreciation e)pen#e 24000

Aorti*ation o& intangib!e a##et# 64500Acc""!ated depreciation 24000+ntangib!e a##et# 64500

Starting t$ro"g$ t$e ba!ance #$eet to ine#tigate acco"nt# not yet ba!anced'

o. Sec"ritie# aai!ab!e &or #a!e at aret doe#nt ba!ance by E514000. Ko%eer4 t$i# ao"ntappear# in t$e o%ner# e-"ity #ection a# t$e c$ange in Hnrea!i*ed gain/!o## on ine#tent#.T$ere&ore4 t$i# ao"nt "#t $ae been t$e ad"#ting entry &or t$e a!!o%ance &or c$ange ina!"e acco"nt.

Hnrea!i*ed gain/!o## on ine#tent# 514000

+ne#tent# in A8S #ec"ritie# a!!o%ance 514000

p. T$e reaining di&&erence in acco"nt# receiab!e E1204000 i# t$e ad"#tent to #a!e# to get&ro accr"a! ba#i# to ca#$ ba#i#. T$e di&&erence in erc$andi#e +nentory i# an ad"#tent toco#t o& good# #o!d. T$e di&&erence in prepaid operating e)pen#e# i# an ad"#tent to ot$eroperating e)pen#e#. T$e c$ange in acco"nt# payab!e %o"!d o#t!y be re!ated to co#t o& good##o!d. T$e c$ange in #a!arie# payab!e a&&ect# #a!arie# and %age# e)pen#e.

Sa!e# 1204000Acco"nt# receiab!e 1204000

erc$andi#e inentory 2704000o#t o& good# #o!d 2704000Prepaid operating e)pen#e# 224000


59/83

+ntere#t e)pen#e 234000(i#co"nt on bond# payab!e 234000

#. @ongFter debt i# pre#ented in t%o n"ber# on ba!ance #$eet F c"rrent and nonc"rrent. T$e#eacco"nt# need to be cobined to &ind o"t $o% "c$ %a# borro%ed or repaid d"ring t$e year.

Tae t$e c$ange in one acco"nt to t$e ot$er. T$e reaining ao"nt to ba!ance %i!! be t$eca#$ in&!o% or o"t&!o%.


60/83

ividends paid (16"333$Hongterm de!t retired (."903"333

$-onds issued 6"333"333Common stock issued ."363"333

Su!totals 1"363"333 (."636"333$

9"696"333

Change in cash /01"233-eginning !alance Cash ."333"333


61/83

Hand o!tained !y issue of common stock /33"333



62/83

ividends received (equity method aliates$ 5/"333(41"333$

II This is the easiest way to handle bad debts! 7ust enter change in DT$


63/83

change in ccounts 7eceiva!le and change in llowanceN



64/83

A


65/83

H!!ian opany*tatement of Cash (lows I=>5O?2 O@4>5O?2 2utotals

%perating )cti"ities xx &,"" &,""

6econciliation *chedule$

=et Income $,""

5oss on sale of e0uipment %"" f 7ain on sale of investments (&"") d1epreciation expense %,"" k;ond discount amorti9ation " s1eferred income taxes 3. iChange in WC accounts$

'ccounts receivale (net) "+erchandise Inventory 3"Prepaid xpenses ($") 'ccounts Payale !"Income 4axes Payale "$?ages payale ($!")Interest payale $""

&,""

In"esting )cti"ities (!,"")Investments sold d %,""sold e0uipment f ""Purchased e0uipment g .,%""Purchase mkt securities ,""

(inancing )cti"ities 3,"""

1ividends paid &""Issued onds at a discount h 3,&""


54 det retired y issue of common stock econversion of onds to stock c

C


66/83

@lliman Company2tatement of Cash >lo*s

>or year ended 1ecemer , 333

Cash flows from operating acti"ities

Collections from customers $","$"

Payments to suppliers (3,!")Payments to employees (,$!")

Other operating payments (,$")Income taxes paid (,!!")1ividends collected %"

Cash provided y operations &,""

Cash flows from in"esting acti"ities

Purchase of marketale securities (,"")Proceeds from sale of long-term investments %,""

1isursements to ac0uire e0uipment (.,%"")Proceeds from sale of e0uipment ""

Cash used y investing activities (!,"")

Cash flows from financing acti"ities

Proceeds from issuance of onds 3,&""Payment of dividends (&"")

Cash provided y financing activities 3,"""

=et increase in cash ,""";eginning alance in cash ,$""

Cash alance at %--3& %,$""

9oncash in"esting and financing acti"ities

54 det retired y issue of common stock ,!""conversion of onds to stock 3,"""

6econcilation of net income to cash pro"ided by operations

=et income $,""5oss on sale of e0uipment %""7ain on sale of investments (&"")1epreciation expense %,"";ond discount amorti9ation "1eferred income taxes 3.

Change in WC accounts$

'ccounts receivale (net) "+erchandise Inventory 3"Prepaid xpenses ($")

'ccounts Payale !"Income 4axes Payale "$?ages payale ($!")Interest payale $""

&,""



67/83

%A


68/83

(ri#o!! opany*tatement of Cash (lows I=>5O?2 O@4>5O?2 2utotals

%perating )cti"ities xx .,&"" .,&""

Reconciliation 2cheduleD=et income (,$"")

1epreciation !,"" gamorti9ation ! hxtraordinary loss (net of taxes) %,.""7ain8(loss) on exchange of assets (,"")Reali9ed gain8(loss) on investments %"" 'mort of ;ond 1iscount .! o

change in WC accounts$

'ccounts receivale (net) (!) iInventories (%") Prepaid xpenses $"" k 'ccounts Payale %3! 5Interest payale (") m?ages payale "" n

.,&""

In"esting )cti"ities ,"""Proceeds from insurance company c %,%""2ale of long-term investment e ""

(inancing )cti"ities (,")Retired onds payale a $,"""Proceeds of ond issue &,%%"dividends paid p %,""


xchanged e0uipment for land dxchanged stock for patent f

C


69/83

1riskoll Company2tatement of Cash >lo*s

>or year ended 1ecemer , 33

Cash flows from operating acti"itiesCollections from customers $3,%!

Payments to suppliers (%,&!)Payments to employees (.,$")Other operating payments (&"")Income taxes paid (!"")Interest paid (,3")1ividends collected &3"

Cash provided y operations .,&""

Cash flows from in"esting acti"itiesProceeds from insurance company %,%""Proceeds from sale of long-term investments ""

Cash provided y investing activities ,"""

Cash flows from financing acti"itiesProceeds from issuance of onds &,%%"Retire onds payale ($,""")Payment of dividends (%,"")

Cash used y financing activities (,")

=et increase in cash %";eginning alance in cash %,&""Cash alance at %--3& ,!%"

9oncash in"esting and financing acti"itiesxchanged stock for patentxchanged e0uipment for land

6econcilation of net income to cash pro"ided by operations=et income (,$"")1epreciation !,""amorti9ation !xtraordinary loss (net of taxes) %,.""7ain8(loss) on exchange of assets (,"")Reali9ed gain8(loss) on investments %""

'mort of ;ond 1iscount .!Change in working capital accounts$

'ccounts receivale (net) (!)Inventories (%")Prepaid xpenses $""

'ccounts Payale %3!

Interest payale (")?ages payale ""

.,&""



70/83

$lbion $ltimeters 3nc.

"tatement of /ash 2lows

For year ended 5.A05A41

3nows -utows et

/ash provided by operations

Cash collected from customers 0"13/"333

Interest = dividends received 56"333Cash paid for merchandise (."352"333$

Cash paid to employees (265"033$

;ther operating dis!ursements (.90"/33$

Interest paid (40"133$

Income ta%es paid (52/"333$

Su!totals 0"1.0"333 (0"51."/33$ 663".33

/ash provided by investingactivities

urchase plant" property = equipment (5"193"333$

Sale of plant" property = equipment 06"333

8arketa!le securities purchased (6/6"333$

8arketa!le securities sold

Su!totals 06"333 (."0.6"333$ (.".43"333$

/ash provided by nancingactivities

>ividends paid (533"333$

Common stock issued 5"163"333

Su!totals 5"163"333 (533"333$ 5"263"333

Change in cash (/4"/33$

-eginning !alance Cash 933"333


71/83

l!ion ltimeters Inc#

For year ended 5.A05A41

"chedule to reconcile net income to cash provided by operations

Eet Income ./4"433

>epreciation = amorti@ation 03"333

-ond premiumsAdiscounts (2"333$

7eali@ed gainsAlosses =< 03"333

>eferred income ta%es 56"133

/hange in woring capital accounts!

Eet accounts receiva!le 5.6".33 ))

8erchandise Inventory .5"333

repaid ;perating ou!tful ccounts 2".33

5.6".33

This is the more dicult alternate:

d,ustment to sales (to get cash collected from customers$ 53/"333

-ad de!t e%pense 51".33

5.6".33



72/83

Borksheet :ear ending :earending

$lbion $ltimeters 3nc. #%ividends aya!le (.6"333$ 533"333 a 16"333 3

-onds aya!le (5"333"333$ (5"333"333$

remiumA>iscount on -ondsaya!le (5.9"333$ p 2"333 (55/"333$

>eferred Income Ta%es (//"333$ q 56"133 (530"133$

Common stock" ?53 par (5"333"333$Dd

53"333633"333 (5"653"333$

dditional paid in capital (133"333$Dd

.."3335".63"333 (5"41."333$

ccGd other comprehensive income 59"333 r .1"333 (50"333$

7etained


73/83

A!bion A!tieter##55@ #55@

Closing entry for 1997 ?evepreciation e%pense (03"333$ 03"333 0

Interest e%pense (/1"133$ p 2"333 934700

Income ta%es e%pense (5/3".33$ O 56"133 o 0"633 16C4000

Net income (accrual basis) 289,900 2C94900 H @@:82:: 550,200

Statement of Cash Flows 32C-+"-6T2C-

+"8"ubtotals

9

-perating $ctivities H @@:82:: 5504200

Eet income ./4"433

dd depreciation e%pense 03"333

dd loss on sale of equipment 03"333 -

morti@ation of discount on -A (2"333$

(e&erred +ncoe Ta)e# 56"133 O

/hange in woring capital accounts!

ccounts 7eceiva!le 554"333

llowance for dou!tful accounts 2".33

8erchandise Inventory .5"333

repaid ;perating


74/83



75/83

$ec &ig"re# &or ca#$ proided by operation#',ndicott ,ngine# E 624000aperdo%n opany E24674000

8ina! ,)a Q"e#tion – Spring 2002

Re."e$/)se the fnancal statements8 the a$$tonal nfo"maton

;next pae< an$ the wo"+sheet p"o#$e$ to p"epa"e the

statement of cash flow .sn the $"ect metho$* Fo" f.ll

c"e$t8 .se the paes p"o#$e$ to p"epa"e the fo"mal

statement n a$$ton to the wo"+sheet*

Camperdown Company

;alance 2heet 0/7


76/83

aperdo%n opany+ncoe Stateent

8or year ending 12/31/02

2ales ",""","""Investment income !","""7ain8(loss) on sale of PP/ ($!,""")Reali9ed gain8(loss) oninvestments ","""

4otal revenues ","!,"""

Cost of goods sold .,""","""2alaries and *ages ."","""Other operating expenses %!",""";ad det expense %,"""1epreciation / amorti9ationexpense ,"&&,"""Interest expense !.!,"""

Income taxes expense !!,""" 3,".$,"""

=et income 3!,"""

0$$tonal nfo"maton/

a. ("ring t$e year4 aperdo%n orporation paid-"arter!y diidend# in t$e tota! ao"nt o&EC64000.

b. T$e pre&erred #toc i# conertib!e into 6 #$are#o& coon #toc at t$e di#cretion o& t$e#toc$o!der. ("ring t$e year4 54000 #$are# o& pre&erred #toc %ere conerted into coon#toc.

c. aperdo%n orporation receied E274000 indiidend# &ro ,dib!e


77/83

Statement of Cash Flow !"o%lem


Campe"$own Compan& 123413:1 Ref De%t Ref C"e$t 123413:2 Ta"e

a#$ 1004000 C34000 1C34000 C340

Sec"ritie# Aai!ab!e &or Sa!e at co#t 3674000 7274000 36040

A!!o%ance to ad"#t to aret a!"e 14000 134000 2740

Net acco"nt# receiab!e 1423C4000 9174000 32140

erc$andi#e +nentory 504000 C04000 6040



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P!ant4 property > e-"ipent 145004000 17420C4000 2470C40

Acc""!ated (epreciation 145004000 245274000 1402740

+ne#tent in ,dib!e


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Statement of Cash Flow !"o%lem


Campe"$own Compan& 123413:1 Ref De%t Ref C"e$t 123413:2 Ta"e

onertib!e pre&erred4 E100 par 540004000 45004000 50040

oon #toc4 E10 par 146004000 240004000 0040

Additiona! paid in capita! 14004000 241064000 70640

AccLd ot$er copre$en#ie incoe 14000 134000 2740

Trea#"ry #toc at co#t 524000 264000 2640

:etained ,arning# 242254000 340C14000 C5640

Total =a% A owne"s e.t& ;1,8,418:::, 54000

:ea!i*ed gain/!o## on ine#tent# 104000

o#t o& good# #o!d 640004000

Sa!arie# and %age# 6004000

aorti*ation e)pen#e 140774000

+ntere#t e)pen#e 5654000

+ncoe ta)e# e)pen#e 5514000

Net income (accrual basis) 9514000



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aperdo%n opany

Stateent o& a#$ 8!o%# INF=O>S O)TF=O>S ;S.%totals<

Ope"atn 0ct#tes

Net incoe 9514000

In#estn 0ct#tes

Fnancn 0ct#tes

307217295 reated by T. Gordon 3/3/16 Page C0


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aperdo%n opany

INF=O>S O)TF=O>S ;S.%totals<


KANG, +N ASK C34000

Tota!#



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Campe"$own Co"po"aton


a#$ proided by operation#

a#$ proided by ine#ting actiitie#

a#$ proided by &inancing actiitie#



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Campe"$own Co"po"aton


:econci!ing #c$ed"!e

Note#

cashflow with sojhhlutions

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