P17-9B Condensed financial data of Minnie Hooper Company are shown below MINNIE

ID: 2539639 • Letter: P

Question

P17-9B Condensed financial data of Minnie Hooper Company are shown below MINNIE HOOPER COMPANY Comparative Balance Sheets December 31 2017 Assets Cash Accounts receivable Inventory Investments Plant assets Accumulated depreciation 2016 93,600 33,400 63,200 124,500 79,500 37,000 102,650 107,000 205,000 (40,000) $445,050 318,000 (44,000) Total $634,800 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings 15,100 140,000 250,000 173,100 $634,800 56,600 48,280 18,830 70,000 200,000 107,940 $445,050 Total

Explanation / Answer

cash flow statement

Indirect method

net income

108160

add depreciation

25000

loss on disposal of plant assets

5000

interest expense

2940

increase In accounts receivables

-26200

increase in inventory

-21850

increase in accounts payable

8320

decrease in accrued expenses payable

-3730

cash flow from operating activities

97640

cash flow from investing activities

-111500

purchase of plant assets

-149000

sale of investment

27500

sale of plant assets

10000

cash flow from financing activities

74060

cash proceeds from issuance of common stock

50000

cash proceeds from issuance of bonds payable

70000

interest paid

-2940

dividend paid

-43000

cash flow from operations

60200

beginning balance of cash

33400

ending balance of cash

93600