attix Corporation\'s balunce shoet and income statement appear below: Comparativ

Question

attix Corporation's balunce shoet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance Assets $22 Cash and cash equivalents Accounts receivable Inventory Property, plant and equipment Less accumulated depreciation Total assets $23 39 43 587 359 $333 40 500 347 $259 Liabilities and stockholders' equity: Accounts payable Accrued liabilities Income taxes payable $26 $30 15 39 18 40 120 Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 109 51 89 $333 50 $259

Explanation / Answer

1 cash flow statement a cash flow from operating activities net income 116 adjustments add depreciation expenses note 13 decrease in accounts receivable 40-39 1 decrease in inventory 44-43 1 increase in accounts payable 30-26 4 income tax expenses 50 1 total 69 less gain on sale of equipment 14 increase in accrued liabilities 18-15 3 income tax paid note 51 2 total 68 a total cash flow from operating activity 117

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