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Please answer ALL questions. PLEASE.. Help me understand. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of

Please answer ALL questions. PLEASE..

Help me understand.

Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:

Ending Balance Beginning Balance
Cash $ 93,800 $ 112,450
Accounts receivable 75,600 81,400
Inventory 101,500 92,500
Total current assets 270,900 286,350
Property, plant, and equipment 270,000 259,000
Less accumulated depreciation 90,000 64,750
Net property, plant, and equipment 180,000 194,250
Total assets $ 450,900 $ 480,600
Accounts payable $ 59,200 $ 105,200
Income taxes payable 46,000 59,900
Bonds payable 111,000 92,500
Common stock 129,500 111,000
Retained earnings 105,200 112,000
Total liabilities and stockholders equity $ 450,900 $ 480,600

During the year, Ravenna paid a $11,100 cash dividend and it sold a piece of equipment for $5,550 that had originally cost $12,600 and had accumulated depreciation of $8,400. The company did not retire any bonds or repurchase any of its own common stock during the year.

Required:
1.

What is the amount of the net increase or decrease in cash and cash equivalents that would be shown on the companys statement of cash flows?

2.

What net income would the company include on its statement of cash flows?

3.

How much depreciation would the company add to net income on its statement of cash flows?

4.

If the company debited Accounts Receivable and credited Sales for $1,110,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year?

5.

What is the amount and direction (+ or ) of the accounts receivable adjustment to net income in the operating activities section of the statement of cash flows?

6-a.

If the company debited cost of goods sold and credited inventory for $740,000 during the year, what is the total amount of inventory purchases recorded on the debit side of the Inventory T-account and the credit side of the Accounts Payable T-account?

6-b.

What is the total amount of the debits recorded in the Accounts Payable T-account during the year?

7.

What is the combined amount and direction (+ or ) of the inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows?

8.

If the company debited income tax expense and credited income taxes payable $1,390 during the year, what is the total amount of the debits recorded in the Income Taxes Payable account?

9.

What is the amount and direction (+ or ) of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows?

10.

Would the operating activities section of the companys statement of cash flows contain an adjustment for a gain or a loss? What would be the amount and direction ( + or ) of the adjustment?

11.

What is the amount of net cash provided by (used in) operating activities in the companys statement of cash flows?

12.

What is the amount of gross cash outflows reported in the investing section of the companys statement of cash flows?

13.

What is the companys net cash provided by (used in) investing activities?

14.

What is the amount of gross cash inflows reported in the financing section of the companys statement of cash flows?

15.

What is the companys net cash provided by (used in) financing activities?

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