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Burns Corporation's net income last year was $99,200. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset

Burns Corporation's net income last year was $99,200. Changes in the company's balance sheet accounts for the year appear below:

Increases

(Decreases)

Asset and Contra-Asset Accounts:

Cash and cash equivalents

$

25,400

Accounts receivable

$

13,900

Inventory

$

( 16,800)

Prepaid expenses

$

4100

Long-term investments

$

10,300

Property, plant, and equipment

$

75,600

Accumulated depreciation

$

34,100

Liability and Equity Accounts:

Accounts payable

$

( 18,700)

Accrued liabilities

$

17,400

Income taxes payable

$

4200

Bonds payable

$

( 63,000)

Common stock

$

43,600

Retained earnings

$

94,900

The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $4300.

Required:

No decimals are needed

Complete the following Operating Activities schedule by identifying answers to the 9 items in bold below.

Some items require numeric answers and some items require word answers :

Item 1

$ Item 2

Adjustments

Depreciation Expense

$ Item 3

Change in Item 4

$(13,900)

Change in Inventory

$ Item 5

Change in Prepaid Expenses

$(4,100)

Change in Item 6

$ Item 7

Change in Accrued Liabilities

$ Item 8

Change in Income Taxes Payable

$4,200

Net Cash Provided by Operating Activities

$ Item 9

Questions:

Item 1:

Item 2:

Item 3:

Item 4:

Item 5:

Item 6:

Item 7:

Item 8:

Item 9:

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