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can you please show me how to arrive at the correct answer. thanks so much Burns Corporation's net income last year was $93,700. Changes in
can you please show me how to arrive at the correct answer. thanks so much
Burns Corporation's net income last year was $93,700. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings $ 18,100 $ 13,800 $(16,800) $ 4,200 $ 11,000 $ 72,100 $ 33,200 $(19,400) $ 17,000 $ 4,300 $(65,400) $ 43,200 $ 89,500 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 $4,200. Required: a Prenare the oneratinn activities sertion of the company's statement of cash flows for the vear (Use the indirect method Prey 4 of 5 Next > 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 $4,200. Required: a. Prepare the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.) b. Prepare the investing activities section of the company's statement of cash flows for the year. c. Prepare the financing activities section of the company's statement of cash flows for the year. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.) (Amounts to be deducted and cash outflows should be indicated with a minus sign.) $ 93,700 Operating activities: Net income Adjustments: Increase in accounts receivable (13.800) Complete this question by entering your answers in the tabs below. Required A Requiredo Required C Prepare the investing activities section of the company's statement of cash flows for the year. (Amounts to be deducted and cash outflows should be indicated with a minus sign.) Investing activities: Purchase of long-term investments Purchase of property, plant, & equipment (11,000) (72,100) ex Pw 9 ch Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the financing activities section of the company's statement of cash flows for the year. (Amounts to be deducted and cash outflows should be indicated with a minus sign.) Financing activities: Repaying principal on bonds payable Issuance of common stock Paying a dividend (65,400) 43,200 (4,200)Step by Step Solution
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