Alex Company reported the following information for 2017 Alex Company Comparativ

Question

Alex Company reported the following information for 2017 Alex Company Comparative Balance Sheets Change Increase/Decrease $23,000 Increase 40,000 Increase 44,000 Increase 2,000 Increase 15,000 Decrease 2016 $36,000 22,000 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 2017 $59,000 62,000 44,000 6,000 55,000 200,000 4,000 70,000 200,000 (21,000) (14,000) 7,000 Increase 115,000 Increase (28,000)(10,000)18,000 Increase 183,000 68,000 $560,000 $376,000 Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings $40,000 10,000 150,000 60,000 116,000 $560,000 $376,000 $43,000 100,000 230,000 187,000 $3,000 Increase 10,000 Decrease 50,000 Decrease 170,000 Increase 71,000 Increase Totals

Explanation / Answer

Statement of cash flow cash flow from operating activity Net Income 156000 Adjustment to reconcile net income to net cash provided by operating activity Depreciation 40000 Loss on disposal of equipment 2000 Increase in accounts receivable (40000) Increase in inventory (44000) Increase in prepaid expense (2000) Increase in accounts payable 3000 Decrease in accrued expensepayable (10000) (51000) Net cash provided by operating activity 105000 cash flow from investing activity sale of equipment 34000 Purchae of equipment (166000) sale of land 15000 Net cash used by investing activity (117000) cash flow from financing activity sale of common stock 170000 payment of dividend (85000) Repayment of bond (50000) Net cash provided by financing activity 35000 Net increase un cash 23000 cash at beginning 36000 cash at end 59000

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