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https://edugen.wileyplus.com/edugen/student/mainfr.uni R Facebook ?.CRC Website Yahoo Mail t eBay CALCULATOR FuLL SCREEN PRINTER VERSION ‘BACK ITEST I Exercise 12-5 12 nment The following information is available for Stamos Corporation for the year ended December 31, 2017 Beginning cash balance Accounts payable decrease Deprecia tion expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value $45,000 3,700 162,000 8,200 11,000 284,100 35,000 12,000 4.700 289,000 26,000 200,000 tudy Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000)) Stamos Corporation Statement of Cash Flows-Indirect Method

Explanation / Answer

Stamos Corporation Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities Net Income   $   284,100 Adjustments to reconcile net income to : Depreciation expenses $   162,000 Increase in accounts receivable $      (8,200) Increase in inventory $   (11,000) Decrease in accounts payable $      (3,700) Increase in income tax payable $        4,700 Total adjustment $   143,800 Net cash flow from operating activities $   427,900 Cash flows from investing activities Cash received from Sale of land $      35,000 Cash paid for purchase of building $ (289,000) Net cash used by investing activities $ (254,000) Cash flows from financing activities Cash received from issue of bonds $   200,000 Cash paid for purchase of treasury stock $   (26,000) Cash paid for dividends $   (12,000) Net cash provided by financing activities $   162,000 Net Decrease in cash and cash equivalents $   335,900 Cash and cash equivalents at beginning of period $      45,000 Cash and cash equivalents at end of period $   380,900

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