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The following information is provided for the Solitude Corporation.

Balance Sheets
	December 31, 20XX		December 31, 20XW
Assets
Cash		$77,490		$29,520
Accounts receivable		59,040		66,420
Inventory		154,980		132,840
Equipment	136,530		110,700
Less: Accumulated amortization	33,210		22,140
Net equipment		103,320		88,560
Total assets		$394,830		$317,340
Liabilities and Equity
Accounts payable		$62,730		$36,900
Taxes payable		7,380		14,760
Common stock		243,540		221,400
Retained earnings		81,180		44,280
Total liabilities and equity		$394,830		$317,340

During 20XX, the following occurred:

1. Net income was $73,800.
2. Equipment was purchased for cash, and no equipment was sold.
3. Shares were sold for cash.
4. Dividends were declared and paid.

a. Prepare a statement of cash flows for the Solitude Corporation. (Amounts to be deducted should be indicated with a minus sign. Omit $ sign in your response.)

Solitude Corporation Statement of Cash Flows
For the Year Ended December 31, 20XX
Operating Activities:
(Click to select) Net income Net loss		$
Add items not requiring an outlay of cash:
(Click to select) Increase in inventory Increase in accounts receivable Decrease in accounts receivable Decrease in taxes payable Amortization expense Increase in accounts payable Decrease in inventory Decrease in accounts payable Increase in taxes payable
Cash flow from operations
Changes in non-cash working capital:
(Click to select) Decrease in accounts receivable Increase in taxes payable Decrease in inventory Increase in accounts receivable Decrease in accounts payable Amortization expense
(Click to select) Increase in inventory Increase in taxes payable Decrease in inventory Increase in accounts receivable Decrease in accounts payable Amortization expense
(Click to select) Increase in accounts payable Increase in taxes payable Decrease in inventory Increase in accounts receivable Decrease in accounts payable Amortization expense
(Click to select) Decrease in taxes payable Increase in taxes payable Decrease in inventory Increase in accounts receivable Decrease in accounts payable Amortization expense
Net Change in non-cash working capital
Cash (Click to select) used in provided by operating activities
Investing activities:
(Click to select) Increase in equipment Decrease in accounts receivable Increase in inventory Increase in accounts payable Decrease in taxes payable Increase in taxes payable Decrease in inventory Increase in accounts receivable Decrease in accounts payable Decrease in equipment
Cash (Click to select) provided by used in investing activities
Financing activities:
(Click to select) Issue of common stock Increase in equipment Amortization expense Decrease in accounts receivable Increase in inventory Increase in accounts payable Decrease in taxes payable Increase in taxes payable
(Click to select) Common stock dividends paid Increase in equipment Amortization expense Decrease in accounts receivable Increase in inventory Increase in accounts payable Decrease in taxes payable Increase in taxes payable
Cash (Click to select) used in provided by financing activities
(Click to select) Net increase in cash Net decrease in cash
Cash, beginning of year
Cash, end of year		$

b. Identify the major accounts contributing to the change in cash position, from the three different components of the cash flow statement. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) b-1. Major accounts contributing to the positive change in cash position:

check all that apply 1

• Accounts receivableunanswered
• Dividends paidunanswered
• Equipmentunanswered
• Net incomeunanswered
• Inventoryunanswered
• Common stock issuanceunanswered
• Accounts payableunanswered
• Amortization expenseunanswered

b-2. Major accounts contributing to the negative change in cash position:

check all that apply 2

• Accounts receivableunanswered
• Equipmentunanswered
• Accounts payableunanswered
• Common stock issuanceunanswered
• Dividends paidunanswered
• Inventoryunanswered
• Amortization expenseunanswered
• Net income