Normal AfteeTimes New Roman 12 B The following are Indigo Corp\'s comparative ba

Question

Normal AfteeTimes New Roman 12 B The following are Indigo Corp's comparative balance sheet accounts at December 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017 COMPARATIVE BALANCE SHEETS 2017 201 Dscraue) $815,400 121,2001,174,200 (53 862,0001,719.800 3,287,700| | 2,938,200 349 1,175,000 (1.047 300 (127.700 $702, Cash Accousts receivable $113,4 14 Property, plant, and equipment Accumulated depreciation Investment in Myers Co 09,3001 273,800 35,500 248 248,600 $6,469,2005,760,7005708,500 receivable Total assets Accounts Income taxes payable Dividends payable Lease liabililty Common stock, $1 par Paid-in capital in excess of par Retained earnings 1,013,800$952,700$61,100 20,300) (18,3000 409.300 29.900 80,700 409 500 99,000 500,000 1,497 2.937900111 2.66120 common stock 276,700 703,500 Total liabilities and stockholders equity $6,469,200 $5,760,700 s

Explanation / Answer

Solution:

Indigo Corp Statement of Cash Flows For year ended December 31, 2017 Particulars Details Amount Cash Flow from Operating Activities: Net Income $357,400.00 Adjustments to reconcile net income to net cash provided by operations: Depreciation Expense ($127700 + $21,800) $149,500.00 Investment income on myers stock -$35,500.00 Gain on sale of equipment -$1,800.00 Decrease in accounts receivables $53,000.00 Increase in inventory -$142,200.00 Increase in accounts payable $61,100.00 Decreae in income taxes payable -$20,300.00 Net Cash provided by operating activities $421,200.00 Cash Flow from Investing Activities: Loan to TLC -$309,700.00 Loan repayment by TLC $61,100.00 Sale of Equipment $39,800.00 Net Cash Provided by Investing activities -$208,800.00 Cash Flow from Financing Activities: Dividend Paid -$99,000.00 Net Cash Provided by financing activities -$99,000.00 Net Increase / (Decrease) in Cash $113,400.00 Cash balance at beginning of year $702,000.00 Cash balance at end of year $815,400.00 Non Cash investing and financing activities: Purchase of building on lease $409,300.00

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