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Accounting L Financial statem Caloocan Lumber Yard Co. Balance Sheet:...

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Accounting

Accounting
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L Financial statem Caloocan Lumber Yard Co. Balance Sheet: December 31 (millions of dollars) 2016 2017 2016 2017 Accounts Payable Notes Payable Accrued Wages Accrued Taxes Long-term Debt Common Stock Retained Earnings 2.5 Cash Account Inventory Net, fixed assets 2.5 2.5 1.5 3.5 20 31.5 ts Receivable 7.5 19 35 1.5 10 5 7.5 Total Liabilities 31.5 10 10 Total Assets 35 and Net Worth Caloocan Lumber Yard Co. ncome Statement: December 31 (millions of dollars) 50 Sales Cost of Goods Sold Selling and Administrative Expenses Depreciation Interest Income before Tax 25 7.5 1.5 1 35 Taxes Net Income 15 5.25 9.75 Required: 1. Prepare a funds flow statement using the working capital definition of funds 2. Evaluate the changes in individual working capital accounts. 3. Analyze your results. Assume that you are a banker evaluating the compamy's application for short erm loan to finance an inventory build-up due to expected increase in sales 2017. How would you interpret the funds flow statement

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