Jeffersonson, Inc.
Balance Sheets
For the years ending December 31, 2011 and 2012)
year————2011, 2012
Cash ———–500, 500
Accounts
receivable—-2800, 2400
Inventory ——9300, 9900
Current assets—- 12,600 , 12,800
Net fixed assets—– 48,200 , 61,400
Land ————–11,600 , 12,900
Total assets——–72,400 , 87,100
Notes payable—— 1200, 1000
Accounts payable—- 1900, 1700
Accruals————-100 , –
Currentportion
of LT Debt———– 3200, 4200
Current liabilities——-6400, 6900
Long-term debt——–12600,28300 Common stock———21000, 20000 Additional paid
in capital———–18400, 17400
Retained earnings —-14000 ,14500
, Total liabilities
and equity———–72400, 87100
In its 2011 income statement, Jefferson Inc. reported net income of $1,160 and depreciation expense of $170. On its 2012 income statement, the company reported net income of $2,290 and depreciation expense of $460. Based on this information (and given the company’s balance sheets for 2011 and 2012 in the chart above), compute Net Cash Flows from Operating Activities for Jefferson in 2012.
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