Richardson, Inc.
Balance Sheets For the years ending December 31, 2011 and 2012)
Year—————2011, 2012
Cash ———— 200, 100
Accounts
receivable——– 800,1400
Inventory ———- 3600, 3100
Current assets—— 4600, 4600
Gross fixed assets—22000, 31000
(Accumulated
depreciation)——- 12000, 14000
Net fixed assets——10000, 17000
Total assets——— 14600, 21600
Notes payable———100, –
Accounts payable——400, 600
Accruals ————– 300, 200
Current portion
of LT Debt————– 800,1400
Current liabilities ——–1600, 2200
Long-term debt——— 1200, 2800
Common stock———-2100, 3400
Additional paid
in capital ————– 8600, 11900
Retained earnings ——-1100,1300
Total liabilities———– 14600, 21600
On its 2011 income statement, Richardson Inc. reported net income of $1,320 and on its 2012 income statement, the company reported net income of $2,210. Based on this information (and NICHISI USONIC. Iepuileu TIEL TRICOMTE DI $1,320 and on its 2012 income statement, the company reported net income of $2,210. Based on this information (and given the company’s balance sheets for 2011 and 2012 in the chart above), compute Net Cash Flows from Financing Activities for Richardson in 2012.
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