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Cengage v2.cengagenow.com/1rn/takeAssignment takeAssignmentMando?invoker=assignments&takeAssignmentSessionLocator;= assignment take&inprogress;=false HOMEWORK 1 Print Item eBook Show Me How Calculator Dec. 31, 2016 Dec. 31, 2015 Assets $585.760.00 208,880.00 616,790.00 240,820.00 0.00 554,020.00 (167,160.00) (148,930.00) 2.359,910.00 $2.057.340.00 626,170.00$ 27,840.00 641,390.00 Cash 4 Accounts receivable (net) 5 Inventories 6 Investments 7Land 8Equipment 0.00 327.380.00 Accumulated depreciation-equipment Total assets Liabilities and Stockholders Equity 47000 $404.080.00 12 Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating expenses) 14 Dividends payable 15 Common stock, $4 par 1s Paid-in capital: Excess of issue price over par-common stock 17 Retained earnings 3 Total liabilities and stockholders equity 43,080.00 24,920.00 140,000.00 17.40000 309,840.00 1,199.310.00 2,050.00 19,300.00 102,000.00 2,359,910.00 $2057,340.00 Check My Work Previous Next 613 PM O Type here to search ) / 4,4x 11/10/2017

Explanation / Answer

Cash flow from operating activities Net income 206,210 Adjustments to reconcile net income to net cash flow from operating activities Depreciation expense 18,230 Gain on sale of investments -39,070 change's in current operating assets & liabilities increase in accounts receivable -18,960 increase in inventories -24,600 increase in accounts payable 20,590 Decrease in accrued expenses payable -8,970 Cash flow from operating activities 153,430 Cash from investing activities cash from sale of investments 279,890 cash used for purchase of Equipment -150,270 cash used for purchase of land -327,380 Cash used by investing activities -197,760 Cash from financing activities Cash from common stock issue 174,800 Cash dividend paid -90,060 Cash used by financing activities 84,740 Net increrase in cash 40,410 cash at the beginning of the year 585,760 cash at year end 626,170

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