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Please let me know the answer thank you! Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation
Please let me know the answer thank you!
Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year ended December 31 , Year 8 . All amounts are in millions of U.S. dollars. Additional information: 1. During fiscal Year 8, Hoskins Corporation acquired new equipment for $3,600 in cash. In addition, the company disposed of used equipment that had original cost of $3,900 and accumulated depreciation of $2,100, receiving $1,800 in cash from the buyer. 2. During fiscal Year 8, Hoskins Corporation arranged short-term bank financing and borrowed $4,500, using a portion of the cash to repay all of its outstanding long-term debt. 3. During Year 8, Hoskins Corporation engaged in no transactions involving its common stock, though it did declare and pay in cash a common stock dividend of $750. Prepare a statement of cash flows (all three sections) for Hoskins Corporation's fiscal Year 8, using the indirect method for the cash from operations section. Note: Use a negative sign with your answer to indicate a reduction in cash/cash outflow. Note: Use a negative sign with your answer to indicate a reduction in cash/cash outflow. \begin{tabular}{|c|c|c|} \hline \begin{tabular}{l} HOSKINS CORPORATION \\ STATEMENT OF CASH FLOW \\ FOR YEAR ENDED DECEMBER 31, \end{tabular} & \begin{tabular}{l} S \\ YEAR 8 \end{tabular} & \\ \hline Cash flows from Operations: & & \\ \hline & $ & 0 \\ \hline Adjustments: & & \\ \hline & & 0 \\ \hline Change in accounts receivable & & 0 \\ \hline Change in inventory & & 0 \\ \hline Change in prepaid expenses & & 0 \\ \hline Change in accounts payable & & 0 \\ \hline & & 0 \\ \hline Cash Flows from Operating Activities & $ & 0 \\ \hline Cash Flows from Investing: & & \\ \hline & & 0 \\ \hline Proceeds from disposal of equipment & & 0 \\ \hline Cash Flows from Investing Activities & & 0 \\ \hline Cash Flows from Financing & & \\ \hline & & 0 \\ \hline Increase in short-term debt & & 0 \\ \hline Decrease in long-term debt & & 0 \\ \hline Cash Flows from Financing Activities & & 0 \\ \hline Net change in cash & & 0 \\ \hline & & 0 \\ \hline Ending cash balance & $ & 0 \\ \hline \end{tabular} CheckStep by Step Solution
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