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    Assignment 2 - Fall 2022

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    Kareem Khaled Said
    1) This document provides the financial statements and additional information for Maple Landmark Company for the year ended December 31, 2021 to complete an assignment on business finance. 2) The assignment requires preparing the cash flow statement for Maple Landmark Company for 2021 using the indirect method and calculating the company's free cash flow for 2021. 3) Students are asked to identify the five uses of free cash flow.

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    Assignment 2 - Fall 2022

    Uploaded by

    Kareem Khaled Said
    22 views3 pages
    1) This document provides the financial statements and additional information for Maple Landmark Company for the year ended December 31, 2021 to complete an assignment on business finance. 2) The assignment requires preparing the cash flow statement for Maple Landmark Company for 2021 using the indirect method and calculating the company's free cash flow for 2021. 3) Students are asked to identify the five uses of free cash flow.

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    1) This document provides the financial statements and additional information for Maple Landmark Company for the year ended December 31, 2021 to complete an assignment on business finance. 2) The assignment requires preparing the cash flow statement for Maple Landmark Company for 2021 using the indirect method and calculating the company's free cash flow for 2021. 3) Students are asked to identify the five uses of free cash flow.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    22 views3 pages

    Assignment 2 - Fall 2022

    Uploaded by

    Kareem Khaled Said
    1) This document provides the financial statements and additional information for Maple Landmark Company for the year ended December 31, 2021 to complete an assignment on business finance. 2) The assignment requires preparing the cash flow statement for Maple Landmark Company for 2021 using the indirect method and calculating the company's free cash flow for 2021. 3) Students are asked to identify the five uses of free cash flow.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Business Finance I

    FINC 303 / 2101

    Fall 2022

    Assignment 2

    Assignment rules:

    1) All your answers, discussions, interpretations should be detailed by your

    own words (coping and pasting is prohibited).

    2) No Emails/Questions on the assignment during the assignment period.

    If you doubt in a question, you are invited to write your concern in the answer

    sheet.

    3) The due date of this assignment is (Monday 17/10/2022) at 11:59 pm. Each

    minute of delay will affect the grade.

    4) Assignments to be submitted to Blackboard and the file should be named

    with your name and University ID.


    Given the following financial statements for Maple Landmark Company.
    Maple Landmark Company
    Comparative Balance Sheet
    At December 31, 2021
    Assets 2021 2020
    Cash EGP110,200 33,400
    Accounts Receivables 60,800 37,000
    Inventories 119,900 102,650
    Land 84,500 107,000
    Plant Assets 315,000 205,000
    Accumulated depreciation (52,000) (42,000)
    Total assets 640,400 445,050

    Liabilities and Stockholders' equity


    Accounts payable 52,700 48,280
    Accrued expenses payable 15,100 18,830
    Bonds payable 150,000 70,000
    Common stock 250,000 200,000
    Retained earnings 172,600 107,940
    Total liabilities and stockholders' equity 640,400 445,050

    Maple Landmark Company


    Income statement
    For the year ended, December 31, 2021
    Sales EGP 297,500
    Cost of goods sold (99,460)
    Gross profit 198,040
    Operating expenses ( 43,110)
    Operating income before interest and tax 154,930
    Interest expenses (10,000)
    Gain on sale of plant assets 5,000
    Income before tax expense 149,930
    Tax expense (Tax rate = 24.86%) (37,270)
    Net income 112,660

    Additional information:
    1. Operating expenses including depreciation expense of EGP40,000
    2. New plant assets costing EGP150, 000 were purchased for cash during the year.
    3. Land was sold at cost for cash.
    4. Plant assets costing EGP40, 000 with book value of EGP 10,000 were sold for EGP15, 000.
    5. A cash dividend of EGP 48,000 was declared and paid during the year.
    6. Bonds with EGP80, 000 face value were issued for cash.
    7. The company issued common stock for EGP50, 000 for cash.
    Required:

    a) Prepare the cash flow statement for Maple Landmark Company for the year ended
    December 31, 2021 (Using the indirect method).
    b) Calculate the Maple Landmark Company’s Free Cash Flow (FCF) for the year ended
    December 31, 2021?
    c) What are the five uses of FCF?

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