Apex Company prepared the statement of cash flows for the current year that is s

Question

Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Statement of Cash Flows—Indirect Method Operating activities: Net income $ 40,700 Adjustments to convert net income to cash basis: Depreciation $ 21,500 Increase in accounts receivable (61,000) Increase in inventory (25,300) Decrease in prepaid expenses 9,300 Increase in accounts payable 54,600 Decrease in accrued liabilities (10,200) Increase in income taxes payable 4,000 (7,100) Net cash provided by operating activities 33,600 Investing activities: Proceeds from the sale of equipment 15,800 Loan to Thomas Company (41,900) Additions to plant and equipment (121,900) Net cash used for investing activities (148,000) Financing activities: Increase in bonds payable 88,300 Increase in common stock 38,800 Cash dividends (28,200) Net cash provided by financing activities 98,900

Explanation / Answer

Statement of Cash Flows cash Flow from Operating activities Net Income 40700 Add: Depreciation 21500 Increase in Accounts Receivable -61000 Increase in Inventory -25300 Decrease in Prepaid Expenses 9300 Increase in Accounts Payable 54600 Decrease in accrued Liabilities -10200 Income Taxes Payable 4000 cash Flow from Operating activities 33600 Sale of Equipment 15800 Loan -41900 Plant & Equuipment -121900 cash Flow from Investing activities -148000 Incraese in Bonds payable 88300 Common Stock 38800 Dividends -28200 cash Flow from Financing activities 98900

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