Question
Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet
Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: |
Ending Balance | Beginning Balance | |||
Cash | $ | 97,200 | $ | 116,700 |
Accounts receivable | 77,600 | 83,600 | ||
Inventory | 104,200 | 95,000 | ||
Total current assets | 279,000 | 295,300 | ||
Property, plant, and equipment | 276,000 | 266,000 | ||
Less accumulated depreciation | 92,000 | 66,500 | ||
Net property, plant, and equipment | 184,000 | 199,500 | ||
Total assets | $ | 463,000 | $ | 494,800 |
Accounts payable | $ | 60,800 | $ | 108,000 |
Income taxes payable | 47,200 | 62,800 | ||
Bonds payable | 114,000 | 95,000 | ||
Common stock | 133,000 | 114,000 | ||
Retained earnings | 108,000 | 115,000 | ||
Total liabilities and stockholders equity | $ | 463,000 | $ | 494,800 |
During the year, Ravenna paid a $11,400 cash dividend and it sold a piece of equipment for $5,700 that had originally cost $13,200 and had accumulated depreciation of $8,800. The company did not retire any bonds or repurchase any of its own common stock during the year. |
Required:
11. What is the amount of net cash provided by (used in) operating activities in the companys statement of cash flows? |
12. What is the amount of gross cash outflows reported in the investing section of the companys statement of cash flows? |
13. What is the companys net cash provided by (used in) investing activities? |
14. What is the amount of gross cash inflows reported in the financing section of the companys statement of cash flows? |
15. What is the companys net cash provided by (used in) financing activities? |
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