Answer:
Sweet Acacia Industries
Statement of Cash Flows
For the Year Ended December 31, 2022
Cash Flows from Operating Activities:
Net income $91520
Adjustments to reconcile net income to
Net cash provided by operating activities
Depreciation expense 65600
Decrease in Accounts Receivable 7680
Decrease in inventory 4960
Increase in accounts payable 9120
Decrease in Income tax payable <u>-6240</u> <u>$81120</u>
Net cash provided by operating activities $172,640
Cash Flows from Investing Activities:
Sale of Land 166400
Purchase of Land <u>-129600</u>
Net Cash Provided by Investing Activities $36,800
Cash Flows from Financing Activities:
Payment of Dividends -60800
Issuance of Stock 256000
Redemption of Bonds -105600
Net Cash provided by Financing Activities <u>$89,600</u>
Net Increase in Cash $299,040
Cash at Beginning of Period $38,400
Cash at End of Period $337,440
