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Problem ATC 12-3

c. In 2013 Tesla paid off $12.7 million of long-term borrowings and $2.8 milon l ap leases and other debt. Where did it get the funds to repay this debt? d. All things considered, based on the information in its statements of cash flows, does Tesla's cash position appear to be improving or deteriorating? ATC 12-3 Group Assignment Preparing a statement of cash flows The following financial statements and information are available for Blythe Industries Inc. Balance Sheets As of December 31 2017 2010 Assets Cash Accounts receivable Inventory Marketable securities (available for sale) Equipment Accumulated depreciation Land $120,600 $ 160,200 103,200 186,400 284,000 650,000 (310,000) 80,000 $1,153,800 171,800 220,000 490,000 (240,000) 120,000 $967,400 Total assets Liabilities and equity Liabilities Accounts payable (inventory) Notes payable-Long-term Bonds payable S 36,400 230,000 200,000 466,400 66,200 250,000 100,000 416,200 Total liabilities Stockholders' equity Common stock, no par Preferred stock, $50 par Paid-in capital in excess of par-Preferred stock Total paid-In capital Retained earnings Less: Treasury stock 240,000 110,000 34,400 384,400 333,000 (30,000) 687,400 $1.153,800 200,000 100,000 26,800 326,800 264,400 (40,000 551,200 $967,400 Total stockholders' equity Total liabilities and stockholders' equity Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Operating expenses $1,050,000 (766,500) 283,500 Supplies expense Salaries expense Depreciation expense $20,400 92,000 Total operating expenses Operating income Nonoperating items 81,1 Interest expense Gain from the sale of marketable securities Gain from the sale of land and equipment (16,000) 30,000 12,000 S 107,100 Net income

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