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CengageNOWv2 Online tex Assignment/takeAssignmentMain.do?invoker assignments&takeAssignmentSessionLocator; assignn eBook Show Me How Calculator Statement of Cash Flows-Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets $235,870 $219,920 85,450 78,990 241,220 233,850 0 90,600 Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment 123,720 266,130 206,760 (62,310) (55,750) Total assets $890,080 $774,370 Liabilities and Stockholders' Equity $161,100 $152,550 20,130 6,970 37,940 180,690 105,310 475,310 451,470 $890,080 $774,370 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings 16,020 8,900 48,060 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows Check My Wark

Explanation / Answer

Statement of Cash Flows For the Year Ended December 31, 20Y3 Cash Flows from Operating Activities: Net income 60240 Adjustments to reconcile net income to Net cash provided by operating activities Depreciation 6560 Gain on Sale of investments -15400 Chnages in current operating assets and liabilities: Increase in accounts receivables -6460 Increase in inventories -7370 Increase in accounts payable 8550 Decrease in accrued expenses payable -4110 Net cash fow from operating activities 42010 Cash Flows from Investing Activities: Cash received from sale of investments 106000 Cash paid for purchase of Land -123720 Cash paid for purchase of Equipment -59370 Net Cash flow used for Investing Activities -77090 Cash Flows from Financing Activities Cash received from sale of common stock 85500 Cash paid for Dividends -34470 Net Cash flow from Financing Activities 51030 Change in Cash 15950 Cash at Beginning of the year 219920 Cash at End of year 235870

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