resented below. Prepare a statement of cash flows for the year ending December 0

Question

resented below. Prepare a statement of cash flows for the year ending December 017. . Selected financial statement information and additional data for Stanbic Co. is December 31 2016 $40,000 .. 86,000 80,800 2017 $60,000 44,200 170,000 206,600 126,000 789600 $880,800 $1,226.400 $130,000 1 91,600 Cash Inventory. Equipment...504000 TOTAL Accumulated depreciation... $90,000 ...66,400 67,200 168,000 .422,000 67,200 Accounts payable.. Notes payable - short-term Notes payable - long-ter 8,600 252,400 Common stock 538,000 Retained earnings 205.800 $880,800 $1,226.400 00 TOTAL dditional data for 2017: . Net income was $158,600. Depreciation expense was $40,000. Know . Land was purchased for cash at cost. Dividends of $20,000 were paid cash. Equipment was purchased for $201,200 cash. A long-term note for $84,400 was used to pay for an equipment purchase. Common stock sold for casb $116,000 Stctement ur cash huws

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 158600 Adjustment to reconcile net income Depreciation expenses 40000 Decrease account receivable 41800 Increase inventory (36600) Increase account payable 25200 Decrease short term note payable (58600) Net cash flow from operating activities 170400 Cash flow from investing activities Land purchase (45200) Equipment purchase (201200) Net cash flow from investing activities (246400) Cash flow from financing activities Issue common stock 116000 Dividend paid (20000) Net cash flow from financing activities 96000 Net cash flow 20000 Beginning cash 40000 Ending cash 60000

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