Problem 1: Selected balances for Tyner Company are as follows: 2017 2016 Equipment Accumulated Dep 100,000 (30,000) (10,000) 40,000 A. Tyner sold equipment that originally cost $50,000 at a gain of $4000 B. Depreciation expense for the year was $60,000 C. Tyner had an equipment purchase for cash during the year. Prepare the Investing section of the cash flow statement for Tyner to answer QS 12-11 through QS 12-16 as 12-11 The the following balance Comparative Balance Sheets P2 41,000 51,000 B5,800 95800 22,000 175,000 urent acsets. ...109,000 11000 s 15,000 $ 21,000 9,0005,000 14.000 Cost of oods sold Groas profie.... hcome txes payabie..140. 25400 2L00 3000 Nos payable (ong-cam) Income before Income taxes pese 89,100 126,700 47,300 17300 .. gw-rmao .Net home .. .00 wda 1 bites and e to prepare the cash provided or used from operating actlvides section only of the os 12-12 Refe to the data is QS 12-11 riure oosdeg S55.000 is sold at its book value in 2015. on which so depreciation is necessary becasse in is acquired at year-end. What is the cash to the sale of fornlture? cash tom asset sal P3 of furnitro total $45,000 iow re as 12-13 Reder to the data in QS 12-11. finanding 1. Asone that all comon stock is issued for cash Whet amoont of cash dividends is paid duing 2u P3 2. Assuse that no addisional sotes payable are issoed in 2015. What cash amount is paid to reduce notes payable balasce n 20157 aS 12-11 Indirect: Computing cash from operations P2 Ue the following balance sheets and income statement to answer QS 12-11 through QS 12-16. CRUZ INC Comparative Balance Sheets Deeember 31, 2015 2014 Assets 5400420 repald expenses Total eurrent s227,000175,000 nitro IOS,000 ,,000 CRUZ, INC lncome Statement Uabilities and Equity Accounts payable For Year Ended December 31,2015 15,000 S 21,000 9,0005,000 25,400 28,400 400 97,00 Common smock s5 par valure...223,000 7,000 488,000 14000 74000 Toral current labilides Gross profe Oher expenser Income belore es.... Inc -. - . . 89100 Equlty Ratained earninp . 38490 ...213 80 $285.099 N ncoe equired ne the indirect method to prepare the cash provided or sed from operating acdivities sectioa only of the tatement of cash flows for this company os 12-12 Computing cesh from Refer to the dats in QS 12-11 Parniture costing $55,000 a sold at its book value in 2015. Acquisidons of fuminare total $45,00p 05which no depreciation is necessary because it is acquired at yeaeed what is iba cash into to the sale of farmiture? as 12-13 Refee to the data in QS 12-11 1. Assume that all common stock is issued for cash. What smount of eash dividends is paid during 201 2. Assume that no additional motes payable are issued in 2015. What cash amount ia paid to reduce h Computing finanding cash outfiows P3 notes payable balance in 20157 Exercise 12-11 The fodowing financial statemeats and additional information are reported. Indirect: Preparation of statement of cash flows IKIBAN INC F1 P2 P3 A June 30,2815 and 204 29152014 87500 00 $5,000 L0 63800.0 Prepaid . penes 4499 IKIBAN INC ncome Statement Fer Year Eadid Jine30,2015 124000 11$,0 $678,000 267,000 /Usblitle. and Equity 25,000 30,000 4,000 15,000 Accouna paable Wages payable.. Other experses....0 Total operding eperoes 67.000 4400 48 41,400 Notes peable (long trm)...............-noe _c- Oher pains Dosse Galn on sale of equipmee lncome belora xs ncome taxon opense Total lablides Common stock 55 pur value.... Total labices and equy 2.000Equity 22,000 Additional Information a. A $30,000 mote payable is redired at its $30,000 carying (boolk) value in exchange for cash b. The only changes adlocting retaised earnings are net income and cash dividends paid equipment is aoquired for $57,600 cash eccived cash for the sale of equipment that had cost $48,600, yielding a $2,000 gain. epaid Expenses and Wages Payable relate to Oter Eepenses ca the income statement parchases and sales of inveatory are oa credit a ntaisement of cash Bows for the year ended Jane 30, 2015,sing the indirect mecthod