Question 33 (2u points) The balance sheets for Matile Company showed the followi
ID: 2486733 • Letter: Q
Question
Question 33 (2u points) The balance sheets for Matile Company showed the following information. Additional information concerning transactions and events during 2012 are presented below. Matile Company Balance Sheet December 31 2011 S.35.900S 10,200 201 Cash Accounts receivable (net) Inventory Long-term investments Property, plant & equipment Accumulated depreciation 48,300 35.000 20.300 42.000 15,000 150,000 (37.700) 25,000) 236,500 5318,000$212,500 Accounts payable Accrued liabilities S 19,000S 26,500 Long-term notes payable Common stock Retained earnings 17,000 50,000 90,000 29,000 $318.000 $212.500 19,000 70,000 130,000 80,000 ne Additional data: 2012 490 000Explanation / Answer
Cash flow statement using indirect method
Cash flow from operating activities:
Net income 90000
Add:
Non cash expense
Less:
Cash flow from investing activities:
Sale of long term investments 33000
Purchase of machinery (26500)
Cash flow from financing activities:
Dividend paid (39000)
Net increase in cash 25700
Opening cash 10200
Closing cash balance 35900
W N : 1
Opening investments 15000
Sale of investments 33000
Profit on sale 18000 (33000-15000)
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