Question
The following details were determined from a companys comparative balance sheets for the current and last year: Increase (Decrease) Cash and cash equivalents ($19,000) Accounts
The following details were determined from a companys comparative balance sheets for the current and last year:
Increase (Decrease)
Cash and cash equivalents ($19,000)
Accounts receivable ($34,000)
Inventory $13,000
Prepaid expenses ($21,000)
Long-term investments $100,000
Property, plant, and equipment $95,000
Accumulated depreciation $98,000
Accounts payable $0
Accrued liabilities $24,160
Income taxes payable ($14,160)
Bonds payable ($60,000)
Common stock $40,000
Retained earnings $46,000
Net income for the current year is $118,000. The company paid a $72,000 cash dividend. No long-term investment or property, plant, and equipment was sold. No bonds payable were issued and no stock was repurchased.
Answer the following questions using the indirect method for the preparation for the statement of cash flows: a) What is the net cash provided by (used in) operating activities? b) What is the net cash provided by (used in) investing activities? c) What is the net cash provided by (used in) financing activities?
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