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3 years ago

The following information is available for Waterway Industries for the year ended December 31, 2022.

Business

1 answer:

andrezito [222]3 years ago

5 0

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

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