Use the following information for ABC Inc. the answer the following questions (assume the tax...
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Accounting
Use the following information for ABC Inc. the answer the following questions (assume the tax rate is 34 percent):
2016 2017
Sales 23,146,000 25,872,000
Depreciation 3,322,000 3,472,000
Cost of Goods Sold 7,958,000 9,414,000
Other Expenses 1,892,000 1,648,000
Interest 1,552,000 1,852,000
Cash 12,134,000 12,932,000
Accounts Receivable 16,068,000 18,854,000
Short-term Notes Payable 3,422,000 2,294,000
Long-term Debt 40,640,000 49,392,000
Net Fixed Assets 101,776,000 108,546,000
Accounts Payable 8,768,000 9,288,000
Inventory 28,566,000 30,576,000
Dividends 2,822,000 3,236,000
a) Draw up a statement of comprehensive income and statement of financial position for this company for 2016 and 2017. 20 marks
b) For 2017, calculate the cash flow from assets, cash flow to creditors, and cash flow to shareholders. 1
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