Comparative Balance Sheet at December31 Last This Year Year Assets Cash Accounts receivable Inventory Prepaid expense:s Total current assets Property, plant, and equipment $9 15 240 175 6 436 470 85 385 19 $1,017 840 340 125 10 484 610 93 517 16 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity 60 40 410 290 700 210 107 317 $1,017 $ 310 230 72 34 336 180 516 250 74 324 840 Problem 14-11 Missing Data; Statement of Cash Flows L014-1, LO14-2] Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: DebitsCredits> Credits by: Debits by: Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 110,000 $65,00e 8,000 30,000 80,000 220,000 5,000 32,000 9,000 16,000 170,000 50,000 $686,000 $606,000 Required: Using the Indirect method, prepare a statement of cash flows for the year. (List any deduction In cash and cash outflows as negatlve amounts.) Yoric Company Statement of Cash Flows Operating activities: Investing activities Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents The following additional information is available about the company's activities during this year a. The company declared and paid a cash dividend this year b. Bonds with a principal balance of $350,000 were repaid during this year c. Equipment was sold during this year for $70,000. The equipment had cost $130,000 and had $40,000 in accumulated depreciation on the date of sale d. Long-term investments were sold during the year for $110,000. These investments had cost $50,000 when purchased several years ago e. The subsidiaries did not repay any outstanding loans during the year. f. Lomax did not repurchase any of its own stock during the year The company reported net income this year as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $2,000,000 1,300,000 700,00e 490,000 210,00e Gain on sale of investments $ 60,90e Loss on sale of equipment Income before taxes Income taxes Net income (2e,0) 40,eee 250,000 80,00e $ 170,000