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Apex Company prepared the statement of cash flows for the current year that is shown below. Operating activities: Net income Apex Company Statement of

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Apex Company prepared the statement of cash flows for the current year that is shown below. Operating activities: Net income Apex Company Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: Depreciation Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Increase in accounts payable, $ 40,700 $ 21,500 (61,700) (26,000) 10,400 53,100 Decrease in accrued liabilities Increase in income taxes payable Net cash provided by (used in) operating activities Investing activities: (11,700) 3,700 (10,700) 30,000 Proceeds from the sale of equipment Loan to Thomas Company 14,300 (40,100) Additions to plant and equipment (121,000) Net cash provided by (used in) investing activities (146,800) Financing activities: Increase in bonds payable Increase in common stock 88,800 38,600 Cash dividends Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents Ending cash and cash equivalents (28,200) 99,200 (17,600) 28,700 $ 11,100 Next >

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