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Name: Take Home Problem #1 - Acctg 202 Due Tues 10/04/22 PART A (15pts) Bike Corp balance sheet is below with the management narrative:
Name: Take Home Problem #1 - Acctg 202 Due Tues 10/04/22 PART A (15pts) Bike Corp balance sheet is below with the management narrative: Comparative Balance Sheet-Bike .Net Income for the period was $27. The company sold equipment for $9 that was originally purchased for $19. . The sold asset had accumulated depreciation of $5. Assets 12/31/2015 12/31/2016 Cash $ 41 5 67 Accounts Receivable $ 35 $ 43 Inventory S 51 5 35 PP&E $ 500 $ 533 . Accum Depr 5 (330) S (350) Total Assets S 297 5 328 Liabilities & Equity Accounts Payable 20 5 35 Accrued Liabilities 15 5 26 Income Tax Payable $ 36 $ 40 Bonds Payable 157 $ 123 Common Stock $ 45 5 55 Retained Earnings Total Liabilities & Equity 24 S 2975 49 328 The company paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock. Required: Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts) PART B ON REVERSE
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