can someone plz help with the second colum
w om opeldung duvis. 2 Net income $186,540.00 3 4 18,400.00 (50,000.00) 7 (25,390.00) (33,450.00) 8 9 41,130.00 10 (12,470.00) Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 5 Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accrued expenses payable Net cash flow from operating activities 12 Cash flows from investing activities: 15 Cash received from sale of investments Cash paid for purchase of land 15 Cash paid for purchase of equipment Net cash flow used for investing activities 11 Cash flows from financing activities: 18 Cash received from sale of common stock $124,760.00 11 $280,000.00 (526,000.00 (152.000,00) (198,000.00 16 $187.500.00 (91,200.00) Cash paid for dividends Net cash flow from financing activities 96,300.00 $25.060.00 585,920.00 11 Change in cash 22 Cash at the beginning of the year 25 Cash at the end of the year 5608,980,00 Emal instructor MacBook Air 80 DOO EVO FB 79 Mastery Problem: Statement of Cash Flows Championship Boxing, Inc. Statement of Cash Flows Balance Sheet 0 Championship Boxing, Inc. Championship Boxing, Inc. is a smal manufacturer of cardboard boxes of all sizes. You have reported for your first day of work, and the company is in an uproar. Yearty financial statements are being prepared, but a computer malfunction of the company's new BOX-9000 computer has inadvertently erased parts of the company's balance sheet, along with almost all related data except the company's statement of cash flows. The IT department is working to retrieve varlier backups, but estimates that the reconstruction of the data will take about 24 hours Unfortunately, financial statements are to be presented at a stockholders' meeting in one hour. The company uses the Indirect method to prepare its statement of cash flows (rather than the direct method), so your new supervisor believes the missing data for the balance sheet can be prepared using the statement of cash flows. You are assigned this task, since you were top student in your business school class. Meanwhile, the supervisor will go to the stockholders' meeting and give some introductory remarks In addition to the statement of cash flows, the following data survived the computer mishap: A. The investments were sold for $280,000 cash B. Equipment was acquired for $152.000 cash C. Land was acquired for $325,000 cash D. There were no disposals of equipment during the year E. 12,500 shares of common stock were sold for cash during the year F. There was a $96.000 debit to Retained Earnings for cash dividends declared. Statement of Cash Flows Your supervisor has provided you with the following statement of cash flows, prepared using the indirect method. Recall that the statement of cash flows consists of three sections Email Instructor Save and Exit Submit Test for Grading Calculator Assets 2 $608,980,00 $585,920.00 3 Cash 230,950.00 4 Accounts receivable (net) 651,770.00 618,320.00 5 Inventories 0.00 6 Investments 326,000.00 7 Land 0.00 8 Equipment 705,120.00 (166,400.00) 9 Accumulated depreciation equipment 10 Total assets $2,356,420.00 11 12 Liabilities $432,930.00 $391,800.00 41,150.00 13 Accounts payable (merchandise creditors) 14 Accrued expenses payable (operating expenses) 15 Dividends payable 16 Total liabilities 24,000.00 19,200.00 $498,080.00 17 18 Stockholders' Equity 150,000.00 100,000.00 19 Common stock, 54 par 20 Paid-in capital in excess of par 417,500.00 280,000.00 1,290,840.00 21 Retained earnings 21 Total stockholders' equity 23 Total liabilities and stockholders' equity $1,858,340.00 $2,356,420.00
