LMN Retailers Inc.Scenario: Analyze Cash Flow StatementData:Operating Activities:Net Income: $80,000Depreciation Expense: $20,000Increase in Accounts Receivable: $10,000Investing...
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Accounting
LMN Retailers Inc.
Scenario: Analyze Cash Flow Statement
Data:
- Operating Activities:
- Net Income: $80,000
- Depreciation Expense: $20,000
- Increase in Accounts Receivable: $10,000
- Investing Activities:
- Purchase of Equipment: $30,000
- Sale of Investments: $5,000
- Financing Activities:
- Issuance of Long-term Debt: $50,000
- Repayment of Short-term Borrowings: $10,000
Requirements:
- Prepare the Statement of Cash Flows for the year ended December 31, 2023.
- Classify cash flows into Operating, Investing, and Financing activities.
- Analyze LMN Retailers Inc.'s cash flow position and liquidity.
- Discuss the impact of financing activities on the company's capital structure.
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