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35-37 solve all 3. Need fast C. 75. 35. Silverago Incorporated, an international metals company, reported a loss on the sale of equipment of $2
35-37 solve all 3. Need fast
C. 75. 35. Silverago Incorporated, an international metals company, reported a loss on the sale of equipment of $2 million in 2010. In addition, the company's income statement shows depreciation expense of 88 million and the cash flow statement shows capital expenditure of S10 million, all of which was for the purchase of new equipment. Using the following information from the comparative balance sheets, how much cash did the company receive from the equipment sale? Balance Sheet Item 12/31/2009 12/31/2010 Change Equipment S100 million $105 million $5 million Accumulated depreciation equipment $40 million $46 million $6 million A. $1 million B. S2 million C. $3 million 36. Jaderong Plinkett Stores reported net income of S25 million. The company has no outstanding debt. Using the following information from the comparative balance sheets (in millions), what should the company report in the financing section of the statement of cash flows in 2010? Balance Sheet Item 12/31/2009 12/31/2010 Change Common stock S100 S102 S2 Additional paid-in capital common stock $100 $140 Retained earnings $100 $115 $15 Total stockholders' equity $300 S357 $57 540 A. Issuance of common stock of $42 million; dividends paid of S10 million. B. Issuance of common stock of $38 million; dividends paid of $10 million. C. Issuance of common stock of $42 million; dividends paid of $40 million 37. Based on the following information for Star Inc., what are the total net adjustments that the company would make to net income in order to derive operating cash flow? Year Ended Income Statement Item 12/31/2010 Net income $20 million Depreciation $2 million Balance Sheet Item 12/31/2010 12/31/2009 $25 million $22 million Accounts receivable Inventory Change (S3 million) $4 million $10 million $14 million S8 million S13 million $5 million Accounts payable A. Add $2 million B. Add $6 million. C. Subtract $6 millionStep by Step Solution
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