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Need help finding the Net purchase. In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows For the
Need help finding the Net purchase.
In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows For the years ended December 31, 2018 2017 Cash flow from operating activities: Cash received from customers Cash paid to suppliers and employees Interest paid, net Income taxes paid Cash provided by operations 197,822,040 211,673,952 (191,176,791)(200,374,336) (1,513,990) 4,714,609 (2,953,579) (2,998,139) (2,048,523) 8,698,843 (1,617,382) (1,755,802) (6,460,175) 416,650 552,250 Cash flow from investing activities: Capital expenditures and acquisitions Expenditures for other assets Cash used in investing activities (44,560) 138,420 Cash flow from financing activities: Principal payments of long-term debt and lease agreements Addition to long-term debt and lease liability Purchase of common stock and other capital transactions Payment of dividends Cash provided by (used in) financing activities Net increase (decrease) in cash Cash at beginning of year Cash at end of year (2,112,485) 3,068,378 (1,615,906) 1,444,847 (913,231) 865,558 (1,026,968) 1,525,571 6,955,52 190,899 192,615 383,514 $ (12,486) 205,101 192,615 2018 2017 Reconciliation of net income to net cash provided by operations: Net income Depreciation and amortization Deferred income taxes $ 1,755,933 2,408,517 3,535,087 345,766 3,515,504 206,000 Changes in assets and liabilities, net of acquisitions: Decrease (increase) in receivables Decrease (increase) in inventories Increase (decrease) in prepaid expenses Increase (decrease) in controlled disbursements Increase (decrease) in accounts payable Increase (decrease) in accrued expenses other, net Cash provided by operations (2,907,353) 4,130,668 6,042,490 (356,508) 362,648 374,394 (94,850) 84,718 1,778,676 (8,174,148) (14,685) 418,616 1,979 $ 4,714,609 8,698,843 Required Kinney reported cost of goods sold of $168,214,150 in its fiscal 2018 income statement. Compute Kinney's net inventory purchases during the yearStep by Step Solution
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