Condensed financial data of Culver Company for 2017 and 2016 are presented below

Question

Condensed financial data of Culver Company for 2017 and 2016 are presented below CULVER COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2016 $1,130 1,320 1,890 1,720 2017 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) $1,800 1,750 1,630 1,910 (1,190) (1,170) 1,280 1,410 $7,180 $6,300 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,230 190 1,400 1,930 2,430 $910 240 1,540 1,680 1,930 $7,180$630

Explanation / Answer

Cash Flows from Operating Activities

Cash Receipts from Customers. $6460

Cash Paid for Merchandise. $-4150

Cash Paid for Selling/Administrative Expenses. -970

Cash Paid for Income Taxes . -550

-5670

Net Cash Provided by Operating Activities . 790

Cash Flows from Investing Activities

Purchase of Plant Assets. -130

Sale of Held-to-Maturity Investments . 220

Net Cash Provided by Investing Activities . +90

Cash Flows from Financing Activities

Payment of Cash Dividends. -260

Redemption of Bonds Payable. -140

Issuance of Capital Stock. 190

Net Cash Used by Financing Activities . -210

Net Increase in Cash. 670

Cash at Beginning of Period. 1130

Cash at End of Period . $1800

Noncash Investing and Financing Activities

Issuance of Common Stock for Plant Assets. $60

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