1.The net income for Kingbird, Inc. for 2020 was $278,800. For 2020, depreciation on plant assets was $69,200, and the company incurred a loss on disposal of plant assets of $14,500.

Compute net cash provided by operating activities under the indirect method, assuming there were no other relevant changes in the company's accounts.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Kingbird, Inc.

Kingbird, Inc.

Statement of Cash Flows-Indirect Method

2.The comparative balance sheets for Whispering Winds Corp. show these changes in noncash current asset accounts: accounts receivable decrease $80,900, prepaid expenses increase $28,900, and inventories increase $34,800.

Compute net cash provided by operating activities using the indirect method assuming that net income is $253,200.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).

Whispering Winds Corp.

Statement of Cash Flows-Indirect Method

3.Concord Corporation reported net cash provided by operating activities of $349,400, net cash used by investing activities of $145,800 (including cash spent for capital assets of $204,400), and net cash provided by financing activities of $75,900. Dividends of $128,500 were paid.

Calculate free cash flow.(Enter negative amount using either a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).)

Free cash flow

4.Suppose in a recent quarter,Alliance Atlantis Communications Inc.reported net cash provided by operating activities of $45,675,000 and revenues of $264,750,000. Cash spent on plant asset additions during the quarter was $1,615,000. No dividends were paid.

Calculate free cash flow.(Enter negative amount using either a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).)

Free cash flow$

5.Cheyenne Corp. reported net income of $196,100for 2020. Cheyenne also reported depreciation expense of $47,400and a loss of $5,600on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $10,900for the year, a $12,900increase in accounts payable, and a $3,200decrease in prepaid expenses.

make the operating activities section of the statement of cash flows for 2020. Use the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Cheyenne Corp.

Partial Statement of Cash Flows

6.The current sections of Swifty Corporation's balance sheets at December 31, 2019 and 2020, are presented here.

Swifty's net income for 2020 was $151,300. Depreciation expense was $23,300.

2019

2018

Current assetsCash$109,700

$95,500

Accounts receivable111,300

77,000

Inventory159,000

173,000

Prepaid expenses26,000

25,500

Total current assets$406,000

$371,000

Current liabilitiesAccrued expenses payable$14,800

$8,600

Accounts payable85,100

95,900

Total current liabilities$99,900

$104,500

make the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Swifty Corporation

Partial Statement of Cash Flows

7.The following information is available for Bridgeport Corp. for the year ended December 31, 2020.

Beginning cash balance$48,690Accounts payable decrease4,003Depreciation expense175,284Accounts receivable increase8,872Inventory increase11,902Net income307,396Cash received for sale of land at book value37,870Cash dividends paid12,984Income taxes payable increase5,085Cash used to purchase building312,698Cash used to purchase treasury stock28,132Cash received from issuing bonds216,400

make a statement of cash flows using the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Bridgeport Corp.

Statement of Cash FlowsIndirect Method