If anyone could show how they calculate as well, I have a lot of trouble finding what to calculate to fine the answers. Thanks
Wildhorse Co. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Totals 2017 $54,190 61,960 43,830 6,040 54,900 201,930 (20,820 ) 182,690 (27,360) $557,360 2016 $36,090 21,880 -0- 3,990 70,260 201,930 (13,880 ) 68,400 (10,090 ) $378,580 Change Increase/Decrease $18,100 Increase 40,080 Increase 43,830 Increase 2,050 Increase 15,360 Decrease -0- 6,940 Increase 114,290 Increase 17,270 Increase Liabilities and Stockholders' Equity $43,400 Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals 99,340 230,940 183,680 $557,360 $39,810 9,920 149,580 59,810 119,460 $378,580 $3,590 Increase 9,920 Decrease 50,240 Decrease 171,130 Increase 64,220 Increase Wildhorse Co. Income Statement For the Year Ended December 31, 2017 Sales revenue $936,670 Cost of goods sold $478,040 Operating expenses 229,760 Interest expense 11,900 Loss on disposal of equipment 1,990 721,690 Income before income taxes 214,980 Income tax expense 65,380 Net income $149,600 Additional information: 1. Operating expenses include depreciation expense of $39,720. 2. Land was sold at its book value for cash. 3. Cash dividends of $85,380 were declared and paid in 2017. 4. Equipment with a cost of $165,510 was purchased for cash. Equipment with a cost of $51,220 and a book value of $35,710 was sold for $33,720 cash. 5. Bonds of $50,240 were redeemed at their face value for cash. 6. Common stock ($1 par) of $171,130 was issued for cash. Use this information to prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Wildhorse Co. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 - Cash Flows from Operating Activities T Net Income 149600 Adjustments to reconcile net income to T Net Cash Provided by Operating Activities T Depreciation Expense 39720 T Loss on Disposal of Equipment 1990 T Increase in Accounts Receivable 39850 | Increase in Inventory Increase in Prepaid Expenses T Increase in Accounts Payable T Decrease in Accrued Expenses Payable 1 Net Cash Provided by Operating Activities - T Cash Flows from Investing Activities Sale of Equipment T Purchase of Equipment purchase of Equlpment 17Sale of Land net Cash used by Investing activities T Net Cash used by Investing Activities 3 A T Cash Flows from Financing Activities * Redemption of Bonds Redemption of Bonds U Payment of Dividends M T Sale of Common Stock of Common Stock T Net Cash Provided by Financing Activities Net Increase in Cash | Cash at Beginning of Period Cash at End of Period
