Question Help Freds Applance, Inc.accountants assembled the following data for t

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Question Help Freds Applance, Inc.accountants assembled the following data for the year ended December 31, 2016 Encick the icon to view the current accounts ) (Click the icon to view the transaction daa) 1. Prepare Fred's Appliance Inc.'s statement of cash flows using the indirect method to report operating activises List noncash investing and inancing activises schedule Complete the statement one section at a time, beginning with the cash flows from operaing acivises (Use parentheses or a minus sign for numbers to be Fred's Appliance, Inc Statement of Cash Year Ended December 31, 2016 Cash flows from operating activities: Net income Adjustments to reconcle net income to net cash provided by (used for) operating actvities Net cash provided by (used for) operating activies Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activiies Net increase (decrease) in cash: Cash balance, December 31, 2015 Cash balance, December 31, 2016 Noncash investing and financing activities: Choose from any list or enter any number in the input fields and then continue to the next question

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 56800 Adjustment to reconcile net income Depreciation expenses 21200 Loss on sale of equipment 10500 Increase account receivable (4800) Decrease inventory 3000 Increase account payable 2300 Decrease income tax payable (2400) Net cash flow from operating activities 86600 Cash flow from investing activities Purchase of building (128000) Sale of equipment 52000 Net cash flow from investing activities (76000) Cash flow from financing activities Dividend paid (18200) Purchase of treasury stock (13600) Issue common stock 36700 Issue long term notes payable 34300 Net cash flow from financing activiites 39200 Net cash flow 49800 Beginning cash 22000 Ending cash 71800 Non cash investing and financing: Retirement of bonds payable by issuing common stock 85000

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