Answers
For calculation ref:
A B D E F 1 N 3 4 Ол Sullivan's Island Company Subsidiary Income Statement POUNDS Exchange Rate U.S. Dollars Rent revenue 103200 3.54 3653281 Interest expense (154,000 x 10%) - 15400 3.54 -54516 Depreciation expense (234,000/10) -23400 3.54 -82836 Repair expense -3600 3.55 -12780 Net income 60800 215196 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Sullivan's Island Company Subsidiary Statement of Cash Flows POUNDS Exchange Rate U.S. Dollars Operating Activities: Net income 60800 215196 plus: depreciation 23400 3.54 82836 less: increase in accounts receivable - 17200 3.54 -60888 plus: increase in interest payable 15400 3.54 54516 Cash flow from operations 82400 291660 Investing Activities: Purchase of building -234000 3.5 -819000 Financing Activities: Sale of common stock 80000 280000 Borrowing on note 154000 3.5 539000 Dividends paid -11000 3.58 -39380 223000 779620 Increase in cash 71400 252280 Effect of exchange rate change on cash 27456 Beginning cash balance Ending Cash balance 62800 3.58 224824 Sheet18 Sheet19 Sheet20 Sheet21 Sheet22 Sheet23 Sheet24 Sheet25 20 21 un mm 22 23 24 25 26 27 28 KI Sheet
А B с D E 1 N 3 4 5 Sullivan's Island Company Subsidiary Income Statement POUNDS Exchange Rate U.S.
.
Dollars Rent revenue =8600*12 3.54 =C4*D4 Interest expense (154,000 x 10%) =-154000*10% 3.54 =C5%D5 Depreciation expense (234,000/10) =-234000/10 3.54 =C6*D6 Repair expense -3600 3.55 1=C7*D7 Net income =SUM(C4:07) =SUM(E4:E7) 6 7 8 9 10 Sullivan's Island Company Subsidiary 11 Statement of Cash Flows POUNDS Exchange Rate U.S. Dollars 12 Operating Activities: 13 Net income =C8 =E8 14 plus: depreciation |=234000/10 3.54 =C14*D14 15 less: increase in accounts receivable - 17200 3.54 1=C15*D15 16 plus: increase in interest payable =154000*10% 3.54 =C16*D16 17 Cash flow from operations =SUM(C13:C16) =SUM(E13:E16) 18 Investing Activities: 19 Purchase of building -234000 3.5 =C19*D19 20 Financing Activities: 21 Sale of common stock 80000 3.5 =C21*D21 22 Borrowing on note 154000 3.5 =C22*D22 23 Dividends paid -11000 3.58 =C23*D23 24 =SUM(C21:C23) =SUM(E21:E23) 25 Increase in cash =C24+C19+C17 =E24+E19+E17 26 Effect of exchange rate change on cash 1=E25-E28 27 Beginning cash balance 28 Ending Cash balance 62800 3.58 =D28*C28 HSheet18 Sheet19 Sheet20 Sheet21 Sheet22 Sheet23 Sheet24 Sheet25 Shee
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