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Question Two: The records for Todd Inc. showed the following during 2015: Services used this period but not paid yet $350 Cash paid for services
Question Two: The records for Todd Inc. showed the following during 2015: Services used this period but not paid yet $350 Cash paid for services to be used next period $150 Cash dividends declared and paid during this period $400 Purchased new equipment on account for 13,000. Cash collected for services to be provided next period $560 Gain on sale of land for $700 Cash paid for bonds payable retirement $12.000 Stock dividends announced and distributed $10,000 Services provided this period but not yet collected $340 Issue of common stock for cash $20,000 Cash paid for expenses incurred this period $45,500 Services used up this period that were prepaid in a previous period $250 Cash collected for services provided this period, $90,000 Increase in Accumulated depreciation by $2,500 Cash paid for services used in previous period $470 Required:Calculate Todd Inc.'s net income for 2015. 1. Calculate Todd Inc.'s net cash flow from operating activities for 2015. 2. Calculate Todd Inc.'s change in assets for 2015. 3. Calculate Todd Inc.'s change in liabilities for 2015. 4. Calculate Todd Inc.'s change in Equity for 2015
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