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Scilla [17]
3 years ago
5

Marks Corporation's balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cas

h equivalents $ 47 $ 37 Accounts receivable 53 57 Inventory 63 60 Property, plant, and equipment 548 440 Less accumulated depreciation 295 255 Total assets $ 416 $ 339 Liabilities and stockholders' equity: Accounts payable $ 52 $ 50 Bonds payable 260 250 Common stock 51 50 Retained earnings 53 (11 ) Total liabilities and stockholders' equity $ 416 $ 339 Net income for the year was $77. Cash dividends were $13. The company did not dispose of any property, plant, and equipment, retire any bonds payable, or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method.
Business
1 answer:
Vinvika [58]3 years ago
3 0

Answer:

<u>statement of cash flows using the indirect method.</u>

Cash Flow from Operating Activities

Net income for the year was                                              $77

Adjustment of Non-Cash Items :

Depreciation                                                                        $40

Adjustment for Working Capital items:

Decrease in Accounts receivable                                       $4

Increase in Inventory                                                          ($3)

Increase in Accounts Payable                                             $2

Net Cash From Operating Activities                                $120

Cash Flow from Investing Activities

Purchases of Property, plant, and equipment              ($108)

Net Cash used in Investing Activities                            ($108)

Cash Flow from Financing Activities

Proceeds from Common Stock Issue                                 $1

Dividends Paid                                                                  ($13)

Net Cash used in Financing Activities                             ($12)

Net Cash Inflow/(Outflow) during the period                   $10

Cash and Cash Equivalents at Beginning of the Period $37

Cash and Cash Equivalents at End of the Period            $47

Explanation:

<u>Show the Movement of Cash in the 3 categories of </u>

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