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Goryan [66]
3 years ago
8

The following information is available for Sage Hill Corporation for the year ended December 31, 2022.

Business
1 answer:
puteri [66]3 years ago
5 0

Answer:

Statement of cash flows for the year ended December 31, 2022

Cash flow from Operating Activities

Net income                                                                      337,000

Adjustment for Non - Cash Items :

Depreciation expense                                                      75,000

Adjustment for Working Capital Items :

Accounts payable decrease                                             (3,500)

Accounts receivable increase                                           (8,700)

Inventory increase                                                             (12,100)

Income tax payable increase                                              4,400

Net Cash from Operating Activities                                392,100

Cash flow from Investing Activities

Cash received for sale of land at book value                 43,000

Cash used to purchase building                                   (145,000)

Net Cash from Investing Activities                                (102,000)

Cash flow from Financing  Activities

Cash dividends paid                                                         (11,800)

Cash used to purchase treasury stock                          (33,900)

Cash received from issuing bonds                                258,000

Net Cash from Financing Activities                                212,300

Movement During the year                                             502,400

Cash and Cash Equivalents at Beginning of the year    43,000

Cash and Cash Equivalents at End of the year             545,400

Explanation:

Prepare the Cash flow Statement under the following headings :

  1. Cash flow from Operating Activities
  2. Cash flow from Investing Activities
  3. Cash flow from Financing Activities
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