7-10 The consolidate balance sheets for Loyd Lumber Company at the beginning and end of 2015...

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Finance

7-10 The consolidate balance sheets for Loyd Lumber Company atthe beginning and end of 2015 w follow. The company bought $50million worth of fixed assets. The charge for depreciation in 2015was $10 million. Net income was $33 million and the company paidput $5 million in dividends.
You must show the computations of each exercise in order toevaluate all the steps you took to reach the final result.
a- Fill in the amount of the source or use the appropriatecolumn
b- Prepare a statement of cash flows.
c- Briefly summarize your findings.
Jan 1
Dec 31
Source
Use
cash
$7
$15
Marketable securities
0
11
Net receivables
30
22
Inventories
53
75
Total current assets
$ 90
$123
Gross fixed assets
75
125
Less: Accumulated depreciation
(25)
(35)
Net fixed assets
$50
$90
Total assets
$140
$213
Accounts payable
$18
$15
Notes payable
3
15
Other current liabilities
15
7
Long-term debt
8
24
Total liabilities
$44
$61
Common stock
29
57
Retained earnings
67
95
Total liabilities and equity
$140
$213

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7-10 The consolidate balance sheets for Loyd Lumber Company atthe beginning and end of 2015 w follow. The company bought $50million worth of fixed assets. The charge for depreciation in 2015was $10 million. Net income was $33 million and the company paidput $5 million in dividends.You must show the computations of each exercise in order toevaluate all the steps you took to reach the final result.a- Fill in the amount of the source or use the appropriatecolumnb- Prepare a statement of cash flows.c- Briefly summarize your findings.Jan 1Dec 31SourceUsecash$7$15Marketable securities011Net receivables3022Inventories5375Total current assets$ 90$123Gross fixed assets75125Less: Accumulated depreciation(25)(35)Net fixed assets$50$90Total assets$140$213Accounts payable$18$15Notes payable315Other current liabilities157Long-term debt824Total liabilities$44$61Common stock2957Retained earnings6795Total liabilities and equity$140$213

	Jan 1	Dec 31	Source	Use
cash	$7	$15
Marketable securities	0	11
Net receivables	30	22
Inventories	53	75
Total current assets	$ 90	$123
Gross fixed assets	75	125
Less: Accumulated depreciation	(25)	(35)
Net fixed assets	$50	$90
Total assets	$140	$213

Accounts payable	$18	$15
Notes payable	3	15
Other current liabilities	15	7
Long-term debt	8	24

Total liabilities	$44	$61
Common stock	29	57
Retained earnings	67	95
Total liabilities and equity	$140	$213