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Q5: Th e balance sheet data of UMB Inc. at the end of 2017 and 2016 follow. ember 3 2016 $ 10,200 20,300 42,000 15,000
Q5: Th e balance sheet data of UMB Inc. at the end of 2017 and 2016 follow. ember 3 2016 $ 10,200 20,300 42,000 15,000 $ 20,900 Cash Accounts receivable (net) Inventory Long-term investments Property, plant& equipment 43,300 35,000 0 150,000 236,500 ?(37,700) (25000) $298.000 $212.500 Accumulated depreciation Accounts payable Accrued liabilities Long-term notes payable Common stock Retained earnings $ 26,500 17,000 50,000 $ 17,000 21,000 70,000 120,000 90,000 $298,000 $1.500 Additional data for year 2017: I. Depreciation expense on plant assets for the year, $12,700. 2. Sold the long-term investments for $28,000 (assume gain or loss is ordinary). 3. Paid dividends of $35,000. 4. Purchased machinery costing $26,500, paid cash. 5. Purchased machinery using a $60,000 long-term note payable. 6. Paid a $40,000 long-term note payable using cash. 7. Issued $30,000 common stock. 8. Net income for the year is $76,000. Instructions Prepare a statement of cash flows for UMB Inc. for the year 2017. (Use the indirect method.)
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