ACF1200 Lecture Notes - Lecture 5: Current Liability, Working Capital, Debt Service Coverage Ratio
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The Blackbeard Company Ltd provided the following information in regard to its operations for the year ended 30 June 2014:
| Cash Book Summary | |||
| Opening balance | $20,000 | Accounts Payable | $40,000 |
| Accounts receivable | 100,000 | Bills Payable (suppliers) | 20,000 |
| Bills Receivable (suppliers) | 20,000 | Interest paid | 60,000 |
| Debenture Issue | 400,000 | Operating expenses | 180,000 |
| Dividends received | 20,000 | Salaries & wages | 200,000 |
| Interest received | 40,000 | Current tax payable | 80,000 |
| Motor vehicles | 60,000 | Plant & machinery | 100,000 |
| Share capital | 200,000 | Dividend paid | 120,000 |
| Balance c/d | 60,000 | ||
| 860,000 | 860,000 | ||
| Balance b/d | 60,000 | ||
Required:
(a) Net cash used in operating activities; (b) Net cash used in investing activities; (c) Net cash from financing activities;
(d) Net increase/(decrease) in cash and cash equivalents.
Please use the following format
| Statement of Cash Flows for Blackbeard Company | ||
| For the Financial Year Ended 30 June 2014 | ||
| ( i ) Cash flows from Operating Activities | Inflows/ | Inflows/ |
| (Outflows) | (Outflows) | |
| Net cash used in operating activities | ||
| ( ii ) Cash flows from Investing Activities | ||
| Net cash used in Investing Activities | ||
| ( iii ) Cash flows from Financing Activities | ||
Please analyze this company 10Q report and till me areas inwhich they are doing well and areas which need improvements.
2018 | 2017 | |||||||
Cash Flows from Operating Activities | ||||||||
Net loss | $ | (784,627 | ) | $ | (397,181 | ) | ||
Adjustments to reconcile net loss to net cash used in operatingactivities: | ||||||||
Depreciation and amortization | 416,233 | 376,602 | ||||||
Stock-based compensation | 141,639 | 103,717 | ||||||
Amortization of debt discounts andissuance costs | 39,345 | 31,747 | ||||||
Inventory write-downs | 18,546 | 26,918 | ||||||
Loss on disposals of fixedassets | 52,237 | 41,120 | ||||||
Foreign currency transactionlosses | 47,661 | 5,064 | ||||||
Loss related to SolarCityacquisition | - | 11,571 | ||||||
Non-cash interest and otheroperating activities | (3,984 | ) | (6,589 | ) | ||||
Changes in operating assets andliabilities, net of effect of business combinations: | ||||||||
Accounts receivable | (169,142 | ) | 91,541 | |||||
Inventories | (322,081 | ) | (124,514 | ) | ||||
Operating lease vehicles | (97,196 | ) | (458,965 | ) | ||||
Prepaid expenses and other currentassets | (50,001 | ) | (75,504 | ) | ||||
MyPower customer notes receivableand other assets | (57,583 | ) | 8,006 | |||||
Accounts payable and accruedliabilities | 317,983 | 2,531 | ||||||
Deferred revenue | 45,795 | 103,941 | ||||||
Customer deposits | 67,359 | (51,004 | ) | |||||
Resale value guarantee | - | 184,579 | ||||||
Other long-term liabilities | (60,560 | ) | 56,609 | |||||
Net cash used in operatingactivities | (398,376 | ) | (69,811 | ) | ||||
Cash Flows from Investing Activities | ||||||||
Purchases of property and equipment excluding capital leases,net of sales | (655,662 | ) | (552,624 | ) | ||||
Purchases of solar energy systems, leased and to be leased | (72,975 | ) | (219,948 | ) | ||||
Business combinations, net of cash acquired | - | (109,147 | ) | |||||
Net cash used in investingactivities | (728,637 | ) | (881,719 | ) | ||||
Cash Flows from Financing Activities | ||||||||
Proceeds from issuances of common stock in public offerings | - | 400,175 | ||||||
Proceeds from issuances of convertible and other debt | 1,775,481 | 1,838,166 | ||||||
Repayments of convertible and other debt | (1,389,388 | ) | (690,945 | ) | ||||
Repayments of borrowings under Solar Bonds issued to relatedparties | (17,500 | ) | (90,000 | ) | ||||
Collateralized lease (repayments) borrowings | (87,092 | ) | 186,355 | |||||
Proceeds from exercises of stock options and other stockissuances | 94,018 | 57,307 | ||||||
Principal payments on capital leases | (18,787 | ) | (18,303 | ) | ||||
Common stock and debt issuance costs | (2,913 | ) | (11,094 | ) | ||||
Purchases of convertible note hedges | - | (204,102 | ) | |||||
Proceeds from issuances of warrants | - | 52,883 | ||||||
Proceeds from investments by noncontrolling interests insubsidiaries | 73,704 | 142,003 | ||||||
Distributions paid to noncontrolling interests insubsidiaries | (52,942 | ) | (63,696 | ) | ||||
Payments for buy-outs of noncontrolling interests insubsidiaries | (2,921 | ) | - | |||||
Net cash provided by financingactivities | 371,660 | 1,598,749 | ||||||
Effect of exchange rate changes on cash and cash equivalents andrestricted cash | 10,102 | 11,643 | ||||||
Net (decrease) increase in cash and cash equivalents andrestricted cash | (745,251 | ) | 658,862 | |||||
Cash and cash equivalents and restricted cash, beginning ofperiod | 3,964,959 | 3,766,900 | ||||||
Cash and cash equivalents and restricted cash, end of period | $ | 3,219,708 | $ | 4,425,762 | ||||
Supplemental Non-Cash Investing and Financing Activities | ||||||||
Acquisitions of property and equipment included inliabilities | $ | 286,975 | $ | 654,322 | ||||
Estimated fair value of facilities under build-to-suitleases | $ | 56,169 | $ | 65,244 | ||||