Reference no: EM13569469

The following information was provided by the treasurer of Linime, Inc., for the year 2012:

1. Cash sales for the year were $50,000; sales on account totaled $60,000.
2. Cost of goods sold was 50% of total sales.
3. All inventory is purchased on account.
4. Depreciation on equipment was $31,000 for the year.
5. Amortization of goodwill was $2,000.
6. Collections of accounts receivable were $38,000.
7. Payments on accounts payable for inventory equaled $39,000.
8. Rent expense paid in cash was $11,000.
9. The company issued 20,000 shares of $10-par stock for $260,000.
10. Land valued at $106,000 was acquired by issuance of a bond with a par value of $100,000.
11. Equipment was purchased for cash at a cost of $84,000.
12. Dividends of $46,000 were declared but not yet paid.
13. The company paid $15,000 of dividends that had been declared the previous year.
14. A machine used on the assembly line was sold for $12,000. The machine had a book value of $7,000.
15. Another machine with a book value of $500 was scrapped and was reported as an ordinary loss. No cash was received on this transaction.
16. The cash account increased $191,000 during the year to a total of $274,000.

Enter your answers as positive numbers.

1. Compute the beginning balance in the cash account.
   $   
2. How much cash was provided by (or used in) operating activities?
   $   
3. How much cash was provided by (or used in) investing activities?
   $   
4. How much cash was provided by (or used in) financing activities?
   $   
5. Would all the above items, (a) through (p), be reported on a cash flow statement?
   -Select-YesNo