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of cash flows-indirect method balance sheet of Coulson, Inc. at December 31, 201

ID: 2579463 • Letter: O

Question

of cash flows-indirect method balance sheet of Coulson, Inc. at December 31, 2016 and 2015 operating from rom The comparative balance sheet ies, Dec. 31, 2016 PR 16-38 Statement Dec.31 $300,600 704,400 918,600 18,600 990,000 1,980,000 s 337 800 609 600 865 800 Assets Cash Accounts receivable (net)... 26,400 1386000 990,000 366000 529,800 16200 $A217 A00 Prepaid expenses Land (397,200) 660,600 (133.200) $5,042.400 Equipment Accumulated depreciation-equipment . . $594,000 631200 Total assets Accounts payable (merchandise creditors) Income taxes payable Bonds payable 26,400 330,000 320,000 950,000 2,822,000 Liabilities and Stockholders' Equity 21600 180.000 810,000 2574,600 $4,217 400 Paid-in capital: Excess of issue price over par-common stock The noncurrent asset, noncurrent liability, and stockholders are as follows equity accounts for 201

Explanation / Answer

The Statement of Cash Flow :

Cash flow from the Operating Activities : $ Net Income as on Dec 31, 2016 326600 Add: Depreciation (31200 + 37200) 68400 Less: Increase in AR 704400 - 609600 -94800 Less: Increase in Inventory 918600 - 865800 -52800 Add: Decrease in Prepaid expenses 18600 - 26400 7800 Less: Derease in AP 631200 - 594000 -37200 Add: Increase in IT Payable21600-26400 4800 Cash inflow from Operating Activities = $222800 Cash flow from the Investing Activities : Less: Discarded Assets -66000 Add: decrease in land1386000 - 990000 396000 Less: Building purchase 1980000 - 990000 -990000 Less: Equipment purchase 660600 - 529800 -130800 Cash outflow from the Investing Activities -790800 Cash flow from the Financing Activities : Add: Issue of Bonds (330000 - 0) 330000 Issue of CS (320000+950000-180000-810000) 280000 Dividend paid -79200 Cash Inflow from Financing Activities 530800 Net Cash inflow of all the activities -37200 Add: Opening cash balance 337800 Closing Cash Balance $300600

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