2017 and 2016 Comparative
ASSETS 2017 2016
Cash $ 33,411$ $ 16,566$
Items 1 to 6. Note the $ value
effect on Cash. Did the change in
balances from one year to the
next create (+) or 'use' (-) cash?
Note the accounting or finance
issue related to each of the six
accounts reviewed.
Accounts Receivable $ 260,205 $ 318,768
Inventory $ 423,819 $ 352,740 71,079
Other current assets $ 41,251 $ 29,912 (11,339)$
Total Current Assets $ 758,686 $ 717,986 (40,700)$
Plant Property and Equipment $ 1,512,675 $ 1,403,220 109,455
Goodwill and other assets $ 382,145 $ 412,565 30,420$
Total Assets $ 2,653,506 $ 2,533,771 (119,735)
LIABILITIES AND EQUITY
Accounts Payable $ 378,236 $ 332,004 46,232
Wages Payable $ 14,487 $ 7,862 6,625
Accrued income taxes $ 21,125 $ 16,815 4,310$
Total Current Liabilities $ 413,848$ $ 356,681$ 57,167$
Long-Term Debt: Bank Notes $ 679,981 $ 793,515 (113,534)
Total Liabilities $ 1,093,829 $ 1,150,196 (56,367)
Total Common Equity $ 1,559,677 $ 1,383,575 176,102
Total Liabilities and Equity $ 2,653,506 $ 2,533,771 119,735
XYZ Bank told Bob to increase cash to $70,000 from 2016 to 2017. But cash increased from $16,566 in 2016 to just $33,411 in 2017, well short of $70,000. In this assignment, you will review six select changes in the Balance Sheet accounts, highlighted in yellow, to bett er understand how these individual account changes impact overall cash flows.
Needed to foot the Cash Flow Statement all the way back to 2017 cash position.Net Income $3,155,848Depreciation 212,366Dividends Paid 2,966,412Tax 225,700
