Statement of Cash Flow Presented below are the consolidated financial statements

Question

Statement of Cash Flow
Presented below are the consolidated financial statements of Casual Clothing, Inc.

Note: In 2013, amortization expense for intangibles was $2,700 and depreciation expense for buildings, furniture & equipment was $123,000.

Required
Using the above financial data, prepare the statement of cash flow for 2013 for Casual Clothing, Inc. using the indirect method.

Statement of Cash Flow Presented below are the consolidated financial statements of Casual Clothing, Inc CASUAL CLOTHING INC. onsolidated Balance Sheet 12/31/13 12/31/12 Assets Current assets Cash and cash equivalents Merchandise inventory Accounts receivable (net) Other current assets 794 $7,352 4,15342,045 25,700 7,800 35,103 25,393 63,75092590 Total current assets Noncurrent Assets Duildings, furniture&equipment; (net) 1,826863 1,658990 2.279,946 1,458,832 615,722 414,725 6,700 $4,896,061 $3,631,837 Land Construction in process Intangibles (net) Toal assets Liabilities &Shareholders;' Equity Current liabilities 779,904 $176,884 Current maturities of long term deb 25000 50,000 67,207 185,945 Notes payable Accounts payable 7,82426,263 Toual current liabilities 599,144 1,090,802 Longterm liabilities B80,216 780,925 Long term debe Toual liabilities Shareholders' equity 2,479,360 1,871,727 Common siock ($.05 par value) 146,961146,961 294,967 1,294,967 974,773 318,182 2,416,701 1,760,110 Relained earnings Toual shareholders' equity $4,896,061 $3,631,837 Toal liabilities& shareholders equity 54896.06

Explanation / Answer

Note:

dividend paid = Beginning retained earnings + Net income - Ending retained earnings = $(1,195,679 - 974,773)

= $220,906

NOTE: Please upload better quality & larger images for future questions. Your image was so small & hazy, even after zooming I found some numbers difficult to read & I've answered to the best of what my eyes could read!

CASH FLOW FROM OPERATING ACTIVITIES $ Net Income 8,77,497 Add: Amortization 2,700 Add: Depreciation 1,23,000 Add: Increase in Current Liabilities       Notes payable 6,03,020     Accrued Expense 32,499 Less: Increase in Current Assets      Inventory 52,108      Accounts receivables 7,900      Other current assets 9,710 Less: Decrease in Current Liabilities     Current maturities of long term debt 1,00,000     Accrued Expense 5,000     Income taxes payable 8,439 NET CASH FLOW FROM OPERATING ACTIVITIES (A) 14,55,559 CASH FLOW FROM INVESTING ACTIVITIES $ Increase in Land acquired -8,21,114 Increase in Plant & Equipment -1,67,873 Increase in construction in progress -2,00,997 NET CASH FLOW FROM INVESTING ACTIVITIES (B) -11,89,984 CASH FLOW FROM FINANCING ACTIVITIES $ Increase in Long term Debt 99,291 Interest Expense -62,876 Dividend Paid -2,20,906 NET CASH FLOW FROM FINANCING ACTIVITIES (C) -1,84,491 NET CASH FLOW (A) + (B) + (C) 81,084

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