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CashFlowStatementandFinancialStatementAnalysisLearningObjectives:Developanabilitytoprepareastatementofca

shflowsusingDirectMethodandDevelopskillstoanalyzeprofitabilityandriskDiscussionSection#4FinancialReporting-E202LopoMartinez1OperationActivitie

sCashFlowfromOperationsCashpaymentsforoperationsCashreceiptsfromoperationsNetincomeAdjustmentsfornon-cashrevenue

sandexpensesAdjustmentsforreceivables,inventories,payables,othercurrentassets/liabilitiesCashflowfromoperationsLessPlus/L

essPlus/LessEqualsEqualsDirectMethodIndirectMethodCanbecomputedtwoways:Obtainedfromcashreceiptsjour

nal.Obtainedfromaccrualsalesinformation.CashreceivedfromcustomersDirectMethodCashReceivedfromCustomers=Sal

es{-increaseA/R+decreaseA/R{+increaseUn.Rev.-decreaseUn.Rev=Sales-DA/R+DUn.RevenueCashreceivedfromcustomersSotocompu

teCashReceivedfromCustomers:➢Step1➢Step2Purchases=COGS{+Increaseininventory-DecreaseininventoryCashpaidformerchandise=Purchases{-IncreaseinA/P+De

creaseinA/PDirectMethodCashPaidforMerchandise=COGS+DINV-DA/PCashpaidformerchandiseSotocomputeCashPaidforMerchandise:Thecashp

aidforwagesandotheroperatingexpensesisaffectedby(1)whethertheexpensewasaccrued(W/P,RentsPayable),and(2)whethertheexpensewasprepaid(Prepai

dWages,PrepaidRents){{Cashpaidforwagesandotheroperatingexpenses=Wagesandotheroperatingexpenses-Increaseinaccruedliabi

lities+Decreaseinaccruedliabilities+Increaseinprepaidexpenses-DecreaseinprepaidexpensesDirectMethodWagesandOperatingExpenses=

Wagesandotheroperatingexpenses-DW/P+DPr.WagesCashpaidforWagesandOtherOperatingExpenses-DRentPayable-DInsur.Payable+DPr.Rent+DPr.Insur.SotocomputeC

ashPaidtoEmployeesandotherOperatingExpenses:Cashpaidforinterest=InterestExpense+DecreaseinInterestpayable-IncreaseinInterestpa

yable{Cashpaidfortaxes=TaxExpense+Decreaseintaxespayable-IncreaseintaxespayableDirectMethodCashPaidforInterestandTaxes{=Interest

Exp.-DInt.PayableCashpaidforinterestCashpaidfortaxesTaxExp.=-DTax.PayableSales-DA/R+DUn.RevenueCashreceivedfromc

ustomersCOGS+DINV-DA/PCashpaidformerchandiseWagesandotheroperatingexpenses-DW/P+DPr.WagesCashpaidforWagesandOtherOperatingExpenses-DR

entPayable-DInsur.Payable+DPr.Rent+DPr.Insur.InterestExp.-DInt.PayableCashpaidforinterestCashpaidfortaxesTaxExp.-DTax.

PayableCashfromOperations(DirectApproach)+----Sales-DA/R+DUn.Revenue-COGS-DINV+DA/P-W.AndotherOE+DW/P-DPr.Wages+D

RentPayable+DInsur.Payable-DPr.Rent-DPr.Insur.-InterestExp.+DInt.Payable-TaxExp.+DTax.PayableCashfromOperations(IndirectMethod)NetInc

ome+Deprec+Amort+Losses-Gains======-DNoncashWorkingCapital(WK)=DirectandIndirectMethodJAN1DEC31BalanceSheetChangeCash52

,000$58,000$Accountsreceivable93,000106,000$13,000Inventories151,000162,00011,000Land30,00030,000BuildingandEquip.790,00

0830,00040,000Acc.Depreciation(460,000)(504,000)(44,000)TotalAssets656,000$682,000$LiabilitiesandOEAccountspaya

ble136,000$141,000$5,000InterestPayable10,0008,000(2,000)MortgagePayable120,000109,000(11,000)CommonStocks250,00025

0,000RetainedEarning140,000174,00034,000TotalLiabilitiesandOE656,000$682,000$DWK=DCurrentAssets-DCurrentLiabilities21,000AssetsHA

LECOMPANYComparativeBalanceSheetsSalesRevenues$1,200,000ExpensesCostofGoodsSold788,000WagesandSalaries280,000Depreciation54,000Interest12,000IncomeT

axes22,000Total1,156,000NetIncome$44,000(10,000)AdditiontoRetainedEarnings34,000RetainedEarnings,Jan.1140,000$174,000

DividendsonCommonStockRetainedEarnings,Dec.31HALECOMPANYIncomeStatementandRetainedEarningsFortheCurrentYearDur

ingthecurrentyearafirmsoldfor$5,000equipmentcosting$15,000with$10,000ofAcc.Depreciation.Didthefirmpurchaseanyequipment?PurchaseofEquip

=End.Equip-(Beg.Equip–SaleofEquip)830,000–(790,000–15,000)=$55,000P-4.27NetIncome$44,000AdditionsDepreciationExp.54,000IncreaseinA/P5,000Subtracti

onsIncreaseinA/R(13,000)IncreaseinInv.(11,000)DecreaseinInt.Payable(2,000)CashFlowfromOperations$77,000SaleofEqui

pment$5,000AcquisitionofEquip.(55,000)CashFlowfromInvesting(50,000)Dividends(10,000)RetirementofMortg/P(11,000)CashFlowfromFinancing(21,000)NetCh

angeinCash6,000Cash,January152,000Cash,December31$58,000HALECOMPANYStatementofCashFlowsOperations:Investing:Financing:FortheCurrentYearB

alanceSheetChangeCashAccountsreceivable$13,000Inventories11,000LandBuildingandEquip.40,000Acc.Depreciation(44,

000)TotalAssetsLiabilitiesandOEAccountspayable5,000InterestPayable(2,000)MortgagePayable(11,000)CommonStocksRetainedEarning34,000TotalLia

bilitiesandOEDWK21,000AssetsHALECOMPANYComparativeBalanceSheetsSalesRevenues$1,200,000ExpensesCostof

GoodsSold788,000WagesandSalaries280,000Depreciation54,000Interest12,000IncomeTaxes22,000Total1,156,000NetIncome$44,000(10,000)AdditiontoRetainedEa

rnings34,000RetainedEarnings,Jan.1140,000$174,000DividendsonCommonStockRetainedEarnings,Dec.31HALECOMPANYIncomeStatementandRetainedEa

rningsFortheCurrentYearP-4.27a)Sales-DA/R+DUn.RevenueCashreceivedfromcustomers=1,200,000-(13,000)1,187,000COGS+DINV-DA/PCas

hpaidtoSuppliers=794,000788,000+(11,000)-(5,000)InterestExp.-DInt.PayableCashpaidforinterest=14,00012,000-(-2,000)Wagesexpenses-DW/P+DPr.WagesC

ashpaidforWages=280,000280,000CashpaidfortaxesTaxExp.-DTax.Payable=22,00022,000-DWKCashfromOperations=77,000Sa

les–Expenses[cash]-(21,000)98,000CashfromCustomer$1,187,000CashtoSuppliers(794,000)CashtoEmployees(280,000)CashforInterests(14,

000)CashforTaxes(22,000)CashFlowfromOperations$77,000HALECOMPANYStatementofCashFlowsOperations:FortheCu

rrentYearP-4.27b)c)d)10ProfitabilityRatiosRateofreturnonassetsLevel1RateofreturntocreditorsandpreferredshareholdersRateofreturnoncommons

hareholders’equityProfitmarginforROALevel2Totalassetsturnoverratio=+LeverageratioTotalassetsturnoverratioProfitmargin

forROCEVariousexpense-to-salespercentagesLevel3A.R.turnover,inv.turnover,plantassetturnoverA.R.turnover,inv.tur

nover,plantassetturnoverVariousexpense-to-salespercentagesReturnonAssets(ROA)•ROApresentsprofitabilityindependentofthesourceoffinancing–Doesnotcons

iderleverage–Measureofhowwellthefirmusesitsassetstogenerateincome•DisaggregatingROA--ROAcanbedefinedastheproductoftwootherratios1.Profitmargin

ratio,and2.TotalassetsturnoverAccountsReceivableTurnoverInventoryTurnoverFixedAssetTurnoverTurnoverRatio

sReturnonCommonEquityROCEcanbedisaggregatedintothreerelatedratios1.ProfitmarginratioforROCE2.Totalassetsturnover3.Leverager

atioLeverageratioindicatestherelativeproportionofcapitalprovidedbycommonshareholdersasdistinctfromtha

tprovidedbycreditors(debtors)orpreferredshareholders.EarningsPerShareEPSdoesnotconsidertheamountofassetsorcapitalrequire

dtogenerateearnings.MeasuresofShort-TermRisk•Currentratio:currentratio=(currentassets)/(currentliabilities)•Quickratio

:(currenthighlyliquidassets)/(currentliabilities)•Cashflowfromoperationstocurrentliabilitiesratio:(cashflowfromoperations)/(curre

ntliabilities)MeasuresofLong-TermRisk•Debt-to-equityratio:(totalliabilities)/(totalequities)totalequities=totalliab.

+shareholders’equity•Cashfromoperationstototalliabilitiesratio:–Measurestheabilityofthefirmtopayallliabilitiesfromcashwit

houtnewdebtoradditionalinvestment.•Interestcoverageratio=(interestbeforeinterestandincometax)(interestexpense)