Condensed financial data of Ayayai Company for 2017 and 2016 are presented below

Question

Condensed financial data of Ayayai Company for 2017 and 2016 are presented below AYAYAI COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2016 $1,160 1,280 1,880 1,670 2017 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) $1,770 1,740 1,620 1,930 (1,250) (1,190) 1,420 $6,220 1,290 $7,100 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 190 1,370 1,930 2,390 $7,100 $920 240 1,570 1,730 1,760 $6,220

Explanation / Answer

Statement of cash flow Net income for the year 890 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense 60 gain on Sale of investments -80 increase in receivables -460 decrease in inventor 260 increase in accounts payable 300 Decrease in accrued liabilities -50 30 30 Net cash provided by operating activities 920 Cash from investing activities cash from sale of investment 210 purchase of plant assets -190 Net cash by investing activities 20 Cash from financing activities Redemption of bonds -200 Cash dividend -260 Cash from common stock 130 Net cash used by financinga ctivity -330 -330 Net increase in cash 610 cash at beginning 1,160 cash at year end 1770

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