Inferring cash flows from balance sheet and income statement data.(Based on a problem prepared by…

Inferring cash flows from balance sheet and income statement data.(Based on a problem prepared by Stephen A. Zeff.) You work for the Plains State Bank as an analyst specializing in the financial statements of small businesses seeking loans from the bank. Digit Retail Enterprises Inc. provides you with its balance sheet for December 31, 2012 and 2013 (Exhibit 6.21), and its income statement for 2013 (Exhibit 6.22). Digit Retail Enterprises, Inc., acquired no new property, plant, and equipment during the year

a. Calculate the amount of cash received from customers during 2013.

b. Calculate the acquisition cost of merchandise purchased during 2013.

c. Calculate the amount of cash paid to suppliers of merchandise during 2013.

d. Calculate the amount of cash paid to salaried employees during 2013

EXHIBIT 6.21,6.22

e. Calculate the amount of cash paid to insurance companies during 2013.

f. Calculate the amount of cash paid to landlords for space rented during 2013.

g. Calculate the amount of dividends paid during 2013.

h. Calculate the amount of cash received when property, plant, and equipment were sold

during 2013.

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