Question
Need ASAP Preparing the Statement of Cash Flows (Indirect Method) The balance sheets for 2004 and 2003 for Columbia Sportswear are attached. In addition, Columbia
Need ASAP
Preparing the Statement of Cash Flows
(Indirect Method)
The balance sheets for 2004 and 2003 for Columbia Sportswear are attached. In addition, Columbia reported the following information:
- 2004 net income was $138,624. Tax expense was $76,297.
- Sold property, plant and equipment for $40 cash and recognized a loss of $541.
- Sold held-to-maturity investments for cash at original cost (i.e., there was no gain or loss).
- Depreciation of plant, property and equipment totaled $18,544 in 2004. Amortization of intangible assets totaled $84.
- Assume all capital expenditures and purchases of other long-term assets were paid in cash.
- Other liabilities consist of various long-term operating liabilities.
Columbia Sportswear Company
Statement of Cash Flows
For the year ended December 31, 2004
Columbia Sportswear Company |
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Balance Sheet |
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December 31 | 2004 | 2003 |
Assets |
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Cash and cash equivalents | $130,023 | $104,135 |
Accounts receivable, net | 267,653 | 206,024 |
Inventories | 165,426 | 126,808 |
Prepaid expenses and other current assets | 32,726 | 22,813 |
Total current assets | 595,828 | 459,780 |
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Held to maturity investments | 160,205 | 160,450 |
Property, plant and equipment, net | 155,013 | 126,247 |
Goodwill and other intangibles | 38,398 | 37,289 |
Total assets | $949,444 | $783,766 |
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Liabilities and Shareholders' Equity |
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Accounts payable | $ 78,309 | $ 62,432 |
Accrued Liabilities | 49,789 | 42,303 |
Income Taxes payable | 11,819 | 8,069 |
Long-term debt | 16,434 | 20,931 |
Other liabilities | 12,843 | 9,202 |
Total liabilities | 169,194 | 142,937 |
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Common Stock & APIC | 164,317 | 163,520 |
Retained Earnings | 615,933 | 477,309 |
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Total liabilities and shareholders' equity | $ 949,444 | $ 783,766 |
What is the number of cash flows from Operating Activities using the Indirect Method?
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