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Help please!!!! 3 Exercise 14-4 Prepare a Statement of Cash Flows (L014-1, LO14-2] The following changes took place last year in Pavolik Company's balance sheet
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3 Exercise 14-4 Prepare a Statement of Cash Flows (L014-1, LO14-2] The following changes took place last year in Pavolik Company's balance sheet accounts: points Skipped Asset and Contra-Asset Accounts Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation $ 13 D $ 17 1 $ 44D $ 121 $ 140 $ 290 1 $ 61 1 Liabilities and Stockholders' Equity Accounts Accounts payable $ 41 1 Accrued liabilities $ 170 Income taxes payable S 22 1 Bonds payable $ 148 1 Common stock $ 680 Retained earnings $ 611 eBook D=Decrease, 1 - Increase Hint Long-term investments that cost the company S14 were sold during the year for $32 and land that cost $31 was sold for $17. In addition, the company declared and paid $11 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock The company's income statement for the year follows: Print References $ 810 348 462 359 112 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income $(14) 18 4 116 44 $ 72 The company's beginning cash balance was $114 and its ending balance was $101. Required: 1 Use the indirect method to determine the net cash provided by operating activities for the year. 2. Prepare a statement of cash flows for the year. Complete this question by entering your answers in the tabs below. Saved Ch. 14: Guided Examples 3 The company's beginning cash balance S114 and its ending balance was $101. 3 points Required: 1. Use the indirect method to determine the net cash provided by operating activities for the year. 2. Prepare a statement of cash flows for the year. Skipped Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Use the indirect method to determine the net cash provided by operating activities for the year. (Adjustment amounts that are to be deducted should be indicated with a minus sign.) Hind Pavolik Company Statement of Cash Flows (partial Print o References 0 0 Required 2 > Step by Step Solution
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