Question
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2014. Also shown is a partially completed
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2014. Also shown is a partially completed comparative balance sheet as of December 31, 2014 and 2013: |
Required: | |
a. | Complete the December 31, 2014 and 2013, balance sheets. I have found the other ones ok, I just don't know how to find the remaining values. Would love assistance along with explanations. Thanks.
Edit: I got Retained Earnings for 2013: 79800 and Total Stockholder's Equity for 2013= 121800. 2013 is complete, now I just need help completing 2014 |
HARTFORD, INC Statement of Cash Flows For the year Ended December 31, 2014 Cash Flows from Operating Activities Net income $ 12,600 Add (deduct) items not affecting cash Depreciation expense Decrease in accounts receivable Increase in Inventory Decrease in accounts payable Proceeds from short-term debt Increase in notes payable 63,000 32,200 (9,800) (8,400) 7,000 16,800 Ne t cash provided by operating activities $113,400 Cash Flows from Investing Activities Purchase of equipment Purchase of buildin $ (70,000) (67,200) gs Net cash used by investing activities $(137,200) Cash Flows from Financing Activities Cash used for retirement of long-term debt Proceeds from issuance of common stock $ (35,000) 14,000 (4,200) Payment of cash dividends on common stock Net cash used by financing activities $ (25,200) Net decrease in cash for the vear $ (49,000)
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