Required information (The following information applies to the questions displayed below.) 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: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Loss accumulated depreciation Net property, plant, and equipment Total assets Balance 77.400 63,400 85,100 225 900 228.000 Beginning Balance $ 92,550 68.200 172,500 23B 250 217,000 154.250 162250 $ 401,000 152H000 $ 377,900 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 49.600 38.600 93.000 108.500 88200 $ 377,900 $ 88,200 48,300 77,500 93,000 94.000 S 401,000 During the year, Ravenna paid a $9,300 cash dividend and it sold a piece of equipment for $4,650 that had originally cost $10,200 and had accumulated depreciation of $6.800. The company did not retire any bonds or repurchase any of its own common stock during the year. Required: 1. What is the amount of the net increase or decrease in cash and cash equivalents that would be shown on the company's statement of cash flows? Net in cash and cash equivalents Required information The following information applies to the questions displayed below) 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: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Ending Balance $ 77,400 63.400 85.100 225.900 220,000 76.000 152,000 $ 377.900 Beginning Balance $ 92,550 68.200 77,500 230/250 227.000 54,250 162,50 5401.000 $49.600 $98, 200 Accounts payable - Income taxes payable" Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 93.000 108,500 88,200 377,900 77.500 93,0 94.000 $ 401,000 During the year, Ravenna paid a $9,300 cash dividend and it sold a piece of equipment for $4,650 that had originally cost $10,200 and had accumulated depreciation of $6,800. The company did not retire any bonds or repurchase any of its own common stock during the year. 2. What net income would the company include on its statement of cash flows? Net income 3. How much depreciation would the company add to net income on its statement of cash flows? Depreciation recorded in Accounts Receivable during the year? 4-5. What does the amount of these credits represent? Complete this question by entering your answers in the tabs below. Req 4A Reg 4B If the company debited Accounts Receivable and credited Sales for $930,000 during the year, what is the total amount of Credits recorded in Accounts Receivable during the year? Amount of credits recorded Req 48 >
