Retained Earnings Take a look at the Balance Sheet for Coors (Figure 7.8). On it, retained earnings are about $651 million. How do you interpret this amount? Does it mean that Coors has $651 million in cash available to spend? Use the following financial statement information to answer the next four questions. Amounts are in thousands of dollars (except number of shares and price per share):
| Dixie Chickens 2000 Balance Sheet Don't use plagiarized sources. Get Your Custom Essay on how do you interpret this amount does it mean that coors has 651 million in cash ava 553680 For $10/Page 0nly | |
| Cash and cash equivalents | $100 |
| Operating assets | 300 |
| Property, plant, and equipment | 800 |
| Other assets | 40 |
| Total assets | $1,240 |
| Current liabilities | $100 |
| Long-term debt | 400 |
| Other liabilities | 20 |
| Total liabilities | $520 |
| Paid-in capital | $ 30 |
| Retained earnings | 690 |
| Total shareholder equity | $720 |
| Total liabilities and equity | $1,240 |
| Dixie Chickens 2000 Income Statement | |
| Net sales | $2,480 |
| Cost of goods sold | -1,660 |
| Gross profit | $820 |
| Operating expenses | -600 |
| Operating income | $220 |
| Other income | 90 |
| Net interest expense | -70 |
| Pretax income | $240 |
| Income tax | -96 |
| Net income | $144 |
| Earnings er share | $1.20 |
| Shares outstanding | 1,20,000 |
| Recent price | $24 |
| Dixie Chickens 2000 Cash Flow Statement | |
| Net income | $144 |
| Depreciation and amortization | 100 |
| Changes in operating assets | -50 |
| Changes in current liabilities | 40 |
| Operating cash flow | $234 |
| Net additions to properties | $(200) |
| Changes in other assets | -40 |
| Investing cash flow | $(240) |
| Issuance/redemption of long-term debt | $94 |
| Dividends paid | -72 |
| Financing cash flow | $22 |
| Net cash increase | $16 |
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