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Describe what the statement of cash flows says about Brock Company $ 275 107 382 Brock Company Statement of Cash Flows-Indirect Method Operating Activities Net
Describe what the statement of cash flows says about Brock Company
$ 275 107 382 Brock Company Statement of Cash Flows-Indirect Method Operating Activities Net income Adjustments to convert net income to a cash basis: Depreciation ..... 140 Increase in accounts receivable. (24) Decrease in inventory ..... 39 Decrease in accounts payable (45) Decrease in accrued liabilities (5) Increase in income taxes payable 6 Gain on sale of equipment ..... Net cash provided by operating activities .. Investing Activities Additions to property, plant, and equipment. (150) Proceeds from sale of equipment ... 19 Net cash used in investing activities. Financing Activities Issuance of bonds payable 40 Issuance of common stock 4. Cash dividends paid .... (35) Net cash provided by financing activities Net increase in cash and cash equivalents . Beginning cash and cash equivalents ... Ending cash and cash equivalents (131) 9 260 170 $ 430 Brock Company Income Statement Net sales ..... Cost of goods sold Gross margin .... Selling and administrative expenses . Net operating income Nonoperating items: Gain on sale of equipment... Income before taxes Income taxes. Net income $5,200 2,980 2,220 1,801 419 4 423 148 $ 275Step by Step Solution
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