Financial accounting chapter 12 homework

AOMEWORK CHAPTER 12 Statement of Cash Flows: Indirect Method The comparative balance sheets for McGill Manufacturing, Inc., for June 30, 2014 and 2013 follow. Additional information about McGill's operations during 2014 is as follows: (a) net income, $239,200; (b) depreciation expense of S120,000; (c) equipment that cost $48,000 with accumulated depreciation of S34,000 sold at a loss of $8,000; (d) it also pu through an increase of $200,000 in Mortgage Payable; (e) made a S40,000 payment on the mortgage; (f) repaid $160,000 in notes but borrowed an $60,000 additional through the issuance of a new note payable; (g) declared & paid a $120,000 cash dividend. rchased land&building for $200,000 REQUIRED 1. Using the indirect method, prepare a statement of cash flows for McGill 2. ACCOUNTING CONNECTION What are the primary reasons for McGill's large increase in cash from 2013 to 2014? 3. Compute and assess cash flow yield & free cash flow for 2014. (Note: Round cash flow yield to one decimal place.) How would you assess McGill's cash generating ability