Hi, would an expert prepare the statement of cash flow ( indirect ) for me? Comp
ID: 2465683 • Letter: H
Question
Hi,
would an expert prepare the statement of cash flow ( indirect ) for me?
Comparative balance sheet data is below. In addition, net income for 2015 was $30,000 and dividends of $20,000 were declared in 2015.
12/31/15 12/31/14
Cash and cash equivalents 127,000 41,000
Accounts receivable 25,000 35,000
Inventory 77,000 58,000
PPE 305,000 300,000
Accumulated depreciation, PPE (180,000) (150,000)
Total Assets 354,000 284,000
Accounts payable 25,000 20,000
Bonds payable 100,000 85,000
Common stock 22,000 12,000
Additional paid in capital 145,000 135,000
Retained earnings 62,000 32,000
Total Liabilities and stockholders’ equity 354,000 284,000
Explanation / Answer
Statement of Cash Flows
For the Year Ended December 31, 2015
Cash flows from operating activities
Net income
$30,000
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation expense
$30,000
Decrease in accounts receivable
$10,000
Increase in inventory
-$19,000
Increase in accounts payable
$5,000
$26,000
Net cash provided by operating activities
$56,000
Cash flows from investing activities
Purchase of PPE
-$5,000
Net cash provided by investing activities
-$5,000
Cash flows from financing activities
Proceeds from issue of bonds
$15,000
Proceeds from issue of common stock
$20,000
Net cash provided by financing activities
$35,000
Net increase/(decrease) in cash and cash equivalents
$86,000
Cash and cash equivalents at beginning of period
$41,000
Cash and cash equivalents at end of period
$127,000
Statement of Cash Flows
For the Year Ended December 31, 2015
Cash flows from operating activities
Net income
$30,000
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation expense
$30,000
Decrease in accounts receivable
$10,000
Increase in inventory
-$19,000
Increase in accounts payable
$5,000
$26,000
Net cash provided by operating activities
$56,000
Cash flows from investing activities
Purchase of PPE
-$5,000
Net cash provided by investing activities
-$5,000
Cash flows from financing activities
Proceeds from issue of bonds
$15,000
Proceeds from issue of common stock
$20,000
Net cash provided by financing activities
$35,000
Net increase/(decrease) in cash and cash equivalents
$86,000
Cash and cash equivalents at beginning of period
$41,000
Cash and cash equivalents at end of period
$127,000
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