Vulcan Corporation (a real company whose name has been disguised) is a leading worldwide manufacturer and distributor of uncoated and coated rubberlike fiberboard products. Vulcan's products are marketed to various industries, including companies in the following businesses: footwear, headwear, luggage, leather goods, belt backing, furniture, electronic integrated com- ponent packaging, and automotive supplies. Information developed using Vulcan Corporation's financial statements for the year ended October 31, 2008 appears below.

Additional Information:
• Total comprehensive income for the year ended October 31, 2008 was \($336,000\).
• Other comprehensive loss (net of applicable income taxes) consisted of unrealized loss on investments classified as available-for-sale securities of \($286,000\).
• Equipment purchased during the year totaled \($854,000\).
• The book value of equipment retired during the year totaled \($348,000\).
Required:
1. Compute Vulcan Corporation's net income loss for the year ended October 31, 2008.
(Hint: All components of other comprehensive income or loss have been provided.)
2. Prepare Vulcan Corporation’s combined statement of income (loss) and comprehensive income (loss) for the year ended October 31, 2008.
3. Determine Vulcan Corporation’s net cash provided by operating activities using the indirect method.

Transcribed Image Text:

Vulcan Corporation Cash Flow from Operating Activities ($ in thousands) Cash received from customers Cash paid to suppliers Cash paid for general and administrative expenses Cash paid for interest Cash paid for income taxes Net cash provided by operating activities Year Ended October 31, 2008 $37,378 (26,884) (8,002) (810) (74) $ 1,608