Exercise 13-12 The following items were gathered from Daniels Distributing\'s ge

Question

Exercise 13-12 The following items were gathered from Daniels Distributing's general ledger: Purchase of marketable securities Depreciation and amortization expense Declaration of preferred dividends Decrease in Prepaid Assets Gain on sale of equipment Net income Beginning Cash balance Proceeds from loan Payment for purchase of equipment Increase in Accounts Recelvable Stock-based compensation Proceeds from issuing common stock Increase in Inventory Decrease in Accounts Payable Ending Cash balance 203,500 32,420 8,030 3,790 5,380 432,000 43,610 122,900 80,925 16,800 181,100 25,320 14,763 14,110 505,662 activities Net cash activities Net cash Using the indirect method, construct Daniels Distributing's statement of cash flows. (If amount decreases cash flow then enter with a negative sign preceding the number or parenthe- sis, e.g. -15,000 or (15,000).) activiies Daniels Distributing Statement Of Cash Flow Net cash

Explanation / Answer

CASSH FLOW STATEMENT: Cashflows from operating activities: Net income 432000 Adjustment for reconciliation Depreciation 32420 Declaration on Pref. dividend 8030 Decrease in Prepaaid assets 3790 Gain on sale of equipmnet -5380 Increase in Accounts receiavble -16800 Increase in inventory -14763 Decrease in Accounts payable -14110 Net cash provided from Operatig Activities 425187 Cashflows from Investing Activities Purchase of marketable securities -203500 Payment fr purchase of equipment -80925 Net cash used in Investing activitiies -284425 Cash flows from Financing activities Proceeds from loan 122900 Stock based compensation 181100 issue of common share 25320 Pref. dividend paiid -8030 Net cash provided from financing activities 321290 Net cassh increase 462052 Add: Beginning balance of cash 43610 Ending balancec of cash 505662

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