Please show all work , thank you. Hocking Corporation\'s comparative balance she
ID: 2469883 • Letter: P
Question
Please show all work , thank you.
Hocking Corporation's comparative balance sheet appears below:
143,000
123,000
184,000
152,000
178,000
189,000
$321,000
$312,000
54,100
51,000
53,000
81,000
205,400
215,000
75,600
55,000
115,600
97,000
$321,000
$312,000
The company's net income (loss) for the year was $25,900 and its cash dividends were $5,300. It did not sell or retire any property, plant, and equipment during the year.
Hocking Corporation's comparative balance sheet appears below:
Explanation / Answer
The company's net cash used in investing activities is 21,000 Statement of Cash Flow Particulars Amount Total Amount Opening cash and cash equivalents 31,000.00 Income 25,900.00 Depreciation 32,000.00 Income Tax Expense 54,100.00 Income Tax paid (51,000.00) Decrease in AR 5,100.00 Increase in inventory (5,100.00) Increase in AP 4,100.00 Increase in Accrued Liabilities 11,200.00 Cash flow from operating activities 76,300.00 Cash flow from Investing activities Purchase of PPE (21,000.00) Cash flow from Investing activities (21,000.00) Cash flow from Financing activities Repurchase of Stock (2,000.00) Repayment of Bonds (28,000.00) Dividends Paid (Net Income - Inc in RE)(25900-20600) (5,300.00) Cash flow from Financing activities (35,300.00) Closing cash and cash equivalents 51,000.00
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