Instructions The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 2042, is shown as follows: Labels and Amount Descriptions Labels and Amount Descriptions Cash used for dividends 1 Dec 31, 2013 Dec 31, 2012 Cash used for merchandise 2 Assets 5 Cash $625.650.00 $586,340.00 208,030.00 Cash used for purchase of equipment Cash used for purchase of land Cash received from customers + Accounts receivable (net) 228.170.00 5 Inventories 641,480.00 617,130.00 Cash from sale of common stock Cash from sale of investments December 31, 2043 6 Investments 0.00 240,290.00 7 Land 328,170.00 0.00 Decrease in accounts payable 706,070,00 Decrease in accounts receivable Decrease in accrued expenses payable B Equipment 9 Accumulated depreciation equipment 10 Total assets 11 Liabilities and Stockholders' Equity 552,300.00 (147,010.00) $2,057,080.00 (165,580.00) $2,363,960,00 Decrease in inventories Decrease in cash $404,860.00 $424,300.00 41,850.00 Depreciation For the Year Ended December 31, 20Y3 52,880,00 Gain on sale of investments 23,200.00 19.880.00 Increase in accounts payable 12 Accounts payable 15 Accrued expenses payable 14 Dividends payable 15 Common stock, $4 par 16 Paid-in capital: Excess of issue price over par-common stock 17 Retained eamings Total Liabilities and stockholders' equity 153,000.00 99,000.00 Increase in accounts receivable 279,800.00 Increase in accrued expenses payable 418,000.00 1,303.610.00 1,200,660,00 18 $2,363.960,00 $ $2,057,080.00 Additional data obtained from an examination of the accounts in the ledger for 2013 are as follows: Increase in cash Increase in inventories Loss on sale of investments Net cash flow from operating activities Net cash flow used for operating activities Net cash flow from investing activities Net cash flow used for investing activities Net cash flow from financing activities Net cash flow used for financing activities Net income A. The investments were sold for $280,680 cash. B. Equipment and land were acquired for cash. C. There were no disposals of equipment during the year. D. The common stock was issued for cash E. There was a $199,210 credit to Retained Earnings for net income. F. There was a $96.260 debit to Retained Earnings for cash dividends declared. Navaria Inc. Score: 14/174 Statement of Cash Flows For the Year Ended December 31, 20Y3 1 Cash flows from operating activities: 2 Net income 3 Adjustments to reconcile net income to net cash flow from operating activities: 4 Depreciation 5 6 Changes in current operating assets and liabilities: 7 8 9 10 11 12 13 Cash flows from (used for) investing activities: 15 16 18 19 Cash flows from (used for) financing activities: 20 21 22 23 24 Cash at the beginning of the year 25 Cash at the end of the year
