Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare ricon Corporation's statement of cash flows for the year anded June 30, 2018. The company uses the indirect method for operating activities Begin by
Prepare ricon Corporation's statement of cash flows for the year anded June 30, 2018. The company uses the indirect method for operating activities Begin by completing the cash flows trom operating actives. Then complete the remaining sections of the cash flow statement. (Une parenthoo ora minun sign for numbers to be suteracted and tor a nut donne in canh) Ericson Corporation Statement of Cash Flow Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities Netheme 55,000 1 Data Table Adjustments to reconcile net income to net cash provided by tuned for operating cities Depreciation $ 9.000 Incase in currentes other than cah 39.000) Net income $Cost of goods 5 100.000 6.500 Other opening expenses Payment of dividende 35.000 Decreate ne 18,000) 38.000 Proceeds from the Purchase of equipment Net cash provided by used for operating active 17.000 of common stock 20.000 wth 42.000 Cash flows from sting activities Sleeve 200,000 Dance 8,000 Purchase of quant $ 143,000) Increase in current assets Payment of nepa 35.000 28.000 Proceeds from all of land other than cash 30.000 Proceeds from sale of land 28.000 Nech provided by for) investing advies (15,000 Purchase of your stor 10.000 Depreciation par 9.000 Cash flows from financing activities Payment of dividende 6500 Print Done Payment of patie 20 Purchase of (10000) 20000 Proceeds from common stock Net provided by used for narvong active Net increase (decrease in tash ] Choose from or in or enteraryumbin the rout fils and then click Check Answer All parts showing Clear All
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started