Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method, 3Prepare the Cash flows from investing
Prepare the "Cash flows from operating activities" section of the statement of cash flows using the indirect method, 3Prepare the "Cash flows from investing activities" section of the statement of cash flows., 4Prepare the "Cash flows from financing activities" section of the statement of cash flows, 5Prepare a statement of cash flows. The comparative balance sheet of Harris Industries Inc. at December 31, 20Y4 and 20Y3, is as follows: Cash Accounts receivable (net). Inventories Prepaid expenses Land Buildings Assets Accumulated depreciation-buildings. Machinery and equipment, Accumulated depreciation-machinery and equipment. Dec. 31, 2014 Dec. 31, 2013 $443.240 665,280 887,880 $ 360,920 592.200 1,022,560 31,640 25,200 302,400 302,400 1,713,600 1,134,000 (466,200) (414,540) 781.200 781,200 (214200) (191,520) 106,960 112,000 54251,800 $3,724,420 Patents. Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) 5837,480 5 927,080 Dividends payable 32,760 25.200 I Salaries payable 78,960 87,060 Mortgage note payable, due in nine years. 224,000 Bonds payable 390,000 Common stock, 55 par. 200.400 50,400 Paid-in capital in excess of par-common stock 366,000 126.000 Retained earnings. 2,512.200 2,118,660 Total liabilities and stockholders' equity. 54251.800 53.724420
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