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On the bass of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash ons
On the bass of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash ons using the indirect method assume that equipment costing $25,000 was purchased for cash and no long term assets were sold during the period Stock was issued for cash-3,200 shares at par Net income for the current year was $ 76,000. Cash dividends declared and paid were $13,000 Current Year Prior Year Assets Cash Accounts Receivable (net) Inventories $74,000 B5,000 90.000 Equipment Accumulated Depreciation $ 170,000 78,000 106,500 395,000 (195,000 $ 554,500 370,000 (158,000) $461,000 Total assets Liabilities and stockholders' equity Accounts Payable (merchandise creditors) Taxus Parvable Common Stock, SLO par Retained Earnings $51,000 2,500 262,000 239.000 $50,000 5,000 230,000 176,000 Total Liabilities and Stockholders' Equity $ 554,500 $461,000 Use the minus on to indicate cash out flows, cash payments, decreases in cash, or any negative Breach co Statement of Cash Flows Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Bresch Co Statement of Cash Flows For You Ended December 31 Cash flows from operating activities: Adjustments to reconcle net income to net cash flow from operating activities Changes in current operating assets and liabilities: Dill. O lO Not cash flow from operating activities Cash flows from investing activities Net cash flow used for investing activities Cash flows from financing activities: Net cash flow provided by financing activities Cash at the beginning of the year Cash at the end of the year Previous
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