Comparative balance sheet accounts of Marcus Inc. are presented below MARCUS INC

Question

Comparative balance sheet accounts of Marcus Inc. are presented below MARCUS INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2014 AND 2013 December 31 ebit Accounts Cash Accounts Receivable Inventory Investments (available-for-sale) Machinery Buildings Land 2014 2013 $34,040 59,940 24,330 38,750 19,030 55,750 7,660 $269,080 $239,500 $41,680 70,700 29,430 22,610 29,810 67,190 7,660 Credit Accounts Allowance for Doubtful Accounts Accumulated Depreciation-Machinery Accumulated Depreciation-Buildings Accounts Payable Accrued Payables Long-Term Notes Payable Common Stock, no-par Retained Earnings $1,170 1,940 8,970 24,260 2,791 31,290 124,100 44,979 $269,080 $239,500 $2,320 6,520 13,750 35,580 3,193 21,370 150,000 36,347

Explanation / Answer

Statement of Cash Flows 2014 Caculation Cash flows from operating activities Net income    38,898.00 Adjustments for: Net cash provided from operating activities Depreciation 10121 Gain on sale of Investment    (3,240.00) Loss On sale Of machinery         828.00 Increase in accounts receivables, net (70700-2320)-(59940-1170) -9610 -( (70700-2320)-(59940-1170)) Increase in inventories    (5,100.00) 24330-29430 Increase in Accounts Payable    11,320.00 35580-24260 Increase in Accured payable         402.00 3193-2791 Net cash from operating activities    43,619.00 Cash flows from investing activities Purchase of Investment -8790 -(22610-(38750-24930)) Purchase of machinery (14,160.00) -((29810-(19030-3380))) Addition in Building (11,440.00) 55750-67190 Sale of Investment    28,170.00 Sale of machinery      1,791.00 Net cash used in investing activities    (4,429.00) Cash flows from financing activities Reduction in Long term Note payable    (9,920.00)                                  (9,920.00) Payment of Dividend (21,630.00)                                (21,630.00) Net cash used in financing activities (31,550.00)                                (31,550.00) Net increase in cash and cash equivalents    7,640.00 Cash at beginning 1 January 2014 34,040.00 Cash and cash equivalents at end of period 41,680.00

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