TB Problem Qu. 13A-49 Comparative balance sheets and the Income statements... Comparative balance sheets and the income statements for Ellis Corporation are presented below. Comparative Balance Sheet Ending Balance Beginning $ 16,000 41.000 69, 700 157.500 178.200 206, 300 SS, 100 $56,900 $ 31,800 44.000 63.600 139,400 212.000 163,500 54.000 $460, 900 Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Long-term investments Property, plant, and equipment Less accumulated depreciation Total amets Liabilities and stockholders' equiry Current liabilities: Accounts payable Accred liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Suoekholders' equity: Coon stock Retained earnings Total stockholders' equity Total liabilities and stockholders $ 38,200 26.200 16,400 80,000 124,800 205,600 $ 40.000 3 1,500 20.600 92.900 30, EOD 1 23,500 300,900 60.400 361,200 $568,900 275,400 2000 337, 400 $450,900 Income Statemen Cost of goods sold Gross margin Selling and adesinistrative e Net operating income Loss on sale of investment Income before axes Net som The following additional information is available for the year. During the year, the company sold long-term investments for $31,300 that had been purchased for $33,800. * The company did not sell any property, plant, and equipment during the year or repurchase any of its own common stock *All sales were on credit. The company paid a cash dividend of $31.800. * The company paid cash to retire $15.800 of bonds payable Required: 3. Using the indirect method, determine the net cash provided by used in operating activities. b. Using the direct method. determine the net cash provided by (used in) operating activities c. Using the net cash provided by (used in operating activities amount from either part a orb prepare a statement of cash flows Complete this question by entering your answers in the tabs below. Required A Required B Required LE $566, 900 $460,900 Income Statement Cost of goods sold GIOS Sellin administrative expense atang income Le of investment 300 000 500 53500 23300 Net income $ 30,200 The following additional information is available for the year During the year, the company sold long-term investments for $31,300 that had been purchased for $ * The company did not sell any property, plant, and equipment during the year or repurchase any of it: All sales were on credit. The company paid a cash dividend of $31.800. * The company paid cash to retire $15.800 of bonds payable. Required: a. Using the indirect method, determine the net cash provided by (used in) operating activities. b. Using the direct method, determine the net cash provided by (used in) operating activities. c. Using the net cash provided by (used in) operating activities amount from either part a or b. prep Complete this question by entering your answers in the tabs below. Required A Required B Required C Using the indirect method, determine the net cash provided by (used in) operating activities. Net cash provided (used in operating adi Required B > 16, 400 80.800 124,800 205) 600 20,600 92, 900 20, 600 23,500 equity: earnings tockholders' Equity abilities and stockholders' equity 800, 900 275,400 60.400 62,000 1361, 200101137,00 $566.900 $460, 900 Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Loss on sale of investment Income before taxes Income taxes Net income $157,500 84,200 73,300 17,300 56,000 2,500 53,500 23, 200 20,200 The following additional information is available for the year During the year, the company sold long-term investments for $31.300 that had been purchased for $33.800 The company did not sell any property, plant, and equipment during the year or repurchase any of its ownie * All sales were on credit. The company paid a cash dividend of $31,800. The company paid cash to retire $15,800 of bonds payable. Required: a. Using the indirect method, determine the net cash provided by (used in) operating activities. b. Using the direct method, determine the net cash provided by (used in) operating activities c. Using the net cash provided by (used in) operating activities amount from either part a orb, prepare a stater Complete this question by entering your answers in the tabs below. Required A Required B Required C Using the direct method, determine the net cash provided by (used in operating activities. Net cash provided (used in) operating activities (Required A Required ) 22 200 Net income 20200 The following additional information is available for the year During the year, the company sold long-term investments for $31,300 that had been purcha "The company did not sell any property, plant, and equipment during the year or repurchase All sales were on credit * The company paid a cash dividend of $31,800. * The company paid cash to retire $15.800 of bonds payable. Required: a. Using the indirect method, determine the net cash provided by (used in) operating activities b. Using the direct method. determine the net cash provided by (used in) operating activities c. Using the net cash provided by (used in) operating activities amount from either part a orb. Complete this question by entering your answers in the tabs below. Required A Required B Required C Using the net cash provided by (used in) operating activities amount from either part statement of cash flows. (Amounts to be deducted should be indicated with a minus si Investing activities Financing activities Beginning balance cash Ending balance cash