Question
Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: PLease use
Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: PLease use amount Descriptions in answer
1 | Income statement data: |
|
2 | Net income | $49,311.00 |
3 | Gain on disposal of property | 1,188.00 |
4 | Depreciation expense | 11,580.00 |
5 | Other items involving noncash expenses | 1,383.00 |
6 | Balance sheet data: |
|
7 | Increase in accounts receivable | 1,746.00 |
8 | Decrease in inventory | 990.00 |
9 | Increase in prepaid expenses | 605.00 |
10 | Decrease in accounts payable | 710.00 |
11 | Decrease in accrued and other current liabilities | 995.00 |
Required:
a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method for National Beverage Corp. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. | |
b. Interpret your results in part (a). |
X
Amount Descriptions
Amount Descriptions | |
Amortization of intangible assets | |
Decrease in accounts payable | |
Decrease in accounts receivable | |
Decrease in accrued and other current liabilities | |
Decrease in inventory | |
Decrease in prepaid expenses | |
Depreciation | |
Gain on disposal of property | |
Increase in accounts payable | |
Increase in accrued and other current liabilities | |
Increase in accounts receivable | |
Increase in inventory | |
Increase in prepaid expenses | |
Losses on disposal of property | |
Net cash flow from operating activities | |
Net cash flow used for operating activities | |
Net income | |
Net loss | |
Other items involving noncash expenses |
X
Statement of Cash Flows-Operating Activities
a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method for National Beverage Corp. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
National Beverage Co. |
Cash Flows from Operating Activities (in thousands) |
1 | Cash flows from operating activities: |
|
|
2 |
|
|
|
3 | Adjustments to reconcile net loss to net cash flow from operating activities: |
|
|
4 |
|
|
|
5 |
|
|
|
6 |
|
|
|
7 | Changes in current operating assets and liabilities: |
|
|
8 |
|
|
|
9 |
|
|
|
10 |
|
|
|
11 |
|
|
|
12 |
|
|
|
13 |
|
|
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started