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Question 6 options: Burns Corporation's net income last year was $99,200. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases)
Question 6 options: Burns Corporation's net income last year was $99,200. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents Accounts receivable $ 21,900 $ 13,500 $ (16,800) $ 4100 $ Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable 10,200 77,000 $ $ 33,200 $ (19,600) $ 16,800 Accrued liabilities $ 4200 Income taxes payable Bonds payable $ (61,200) $ 41,600 Common stock Retained earnings $ 94,900 The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $4300. Required: No decimals are needed Complete the following Operating Activities schedule by identifying answers to the 9 items in bold below. Some items require numeric answers and some items require word answers : Item 1 $ Item 2 Adjustments Depreciation Expense Change in Item 4 $Item 3 $(13,500) Change in Inventory $ Item 5 Change in Prepaid Expenses $(4,100) Change in Item 6 $ Item 7 Change in Accrued Liabilities $ Item 8 Change in Income Taxes Payable $4,200 Net Cash Provided by Operating Activities $ Item 9 Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8: Item 9
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