Please show all work, thank you Hocking Corporation\'s comparative balance sheet
ID: 2469706 • Letter: P
Question
Please show all work, thank you
Hocking Corporation's comparative balance sheet appears below:
14,600
11,300
167,100
151,600
265,000
229,500
265,000
280,500
$432,100
$432,100
99,500
101,500
115,000
99,000
313,400
308,000
64,700
85,100
118,700
124,100
$432,100
$432,100
The company's net income (loss) for the year was $(10,200) and its cash dividends were $10,200. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities.
Hocking Corporation's comparative balance sheet appears below:
Explanation / Answer
The cash flow from operations is $11,400 as follows:
Particulars
Amount ($)
Cash flow from operating activities:
Net income (Loss)
-10200
Adjustment:
Decrease in accounts receivable
8500
Increase in inventory
-8500
increase in prepaid expenses
-3300
Depreciation
35500
Increase in accounts payable
11900
Decrease in accrued liabilities
-20500
Decrease in income tax payable
-2000
Cash flow from operating activities:
11400
Particulars
Amount ($)
Cash flow from operating activities:
Net income (Loss)
-10200
Adjustment:
Decrease in accounts receivable
8500
Increase in inventory
-8500
increase in prepaid expenses
-3300
Depreciation
35500
Increase in accounts payable
11900
Decrease in accrued liabilities
-20500
Decrease in income tax payable
-2000
Cash flow from operating activities:
11400
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