Weaver Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 $1

Question

Weaver Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 $1 $ 12 231 194 Cash 309 158 Accounts receivable Prepaid expenses Total current assets Property, plant, and equipment 443 432 (85) 72) 360 31 $925 $834 475 511 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets 426 24 Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable 301 226 80 64 72 71 Total current liabilities Bonds payable 444 370 170 197 641 163 Total liabilities 540 Common stock Retained earnings 200 94 Total stockholders' equity 284 294 Total liabilities and stockholders' equity $925 $ 834

Explanation / Answer

Cash flow from operating activities under indirect method

Net cash flow

Beginning cash

Ending cash

(13)

12

(1)

Net income 64 Adjustment to reconcile net income Depreciation expenses 23 Gain on sale of investment (5) Loss on sale of equipment 1 Increase account receivable (78) Decrease inventory 36 Increase prepaid exp (3) Increase account payable 75 Decrease accured liabilities (8) Increase income tax payable 7 Net Cash flow from operating activities 112

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