Answer:
Ending cash balance $438,035
Explanation:
Waterway Industries
Statement of cash flows
For the year ended December 31, 2022
Net income $326,715
Cash flow from operating activities:
Depreciation expense 186,300
Accounts payable decrease (4,255)
Accounts receivable increase (9,430)
Inventory increase (12,650)
Income taxes payable increase 5,405
165,370
Net cash provided by operating activities = 492,085
Cash flow from investing activities :
Cash received for sale of land 40,250
Cash used to purchase building (332,350)
Net cash used by investing activities (292,100)
Cash flow from financing activities:
Cash dividends paid (13,800)
Cash used to purchase treasury stock (29,900
)
Cash received from issuing bonds 230,000
Net cash provided from financing activities 186,300
Net changes in cash 386,285
Beginning cash balance 51,750
Ending cash balance $438,035
