Solution-Prepare a statement of cash flows for the year

Prepare a statement of cash flows for the year

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Reference no: EM131701892

Comparative balance sheet

	Ending	Beginning
assets	Balance	Balance
cash and cash equivalents	31	29
accounts receivable	61	73
inventory	59	61
property, plant and equipment	684	550
less accumulated depreciation	-349	-319
total assets	486	394

liabilities and stockholder's equity
accounts payable	53	54
accrued liabilities	20	21
income taxes payable	52	48
bonds payable	203	190
common stock	61	60
retained earnings	97	21
total liabilities and stockholder's equity	486	394

Income statement
sales	807
cost of goods sold	492
gross margin	315
selling and administrative expenses	182
net operating income	133
gain on sale of equipment	16
Income before taxes	149
income taxes	45
net income	104

sold equipment for	18
equipment originally purchased	14
accumulated depreciation	12
paid cash dividends	28

1- Prepare a statement of cash flows for the year using the indirect method

Reference no: EM131701892

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Prepare a statement of cash flows for the year

Reference no: EM131701892

Reference no: EM131701892

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