Question
The following details were determined from a companys comparative balance sheets for the current and last year: Increase (Decrease) Cash and cash equivalents ($3,000) Accounts
The following details were determined from a companys comparative balance sheets for the current and last year:
| Increase (Decrease) |
Cash and cash equivalents | ($3,000) |
Accounts receivable | ($14,000) |
Inventory | $3,000 |
Prepaid expenses | ($7,000) |
Long-term investments | $80,000 |
Property, plant, and equipment | $55,000 |
Accumulated depreciation | $58,000 |
Accounts payable | $0 |
Accrued liabilities | $15,000 |
Income taxes payable | ($11,000) |
Bonds payable | ($30,000) |
Common stock | $20,000 |
Retained earnings | $62,000 |
Net income for the current year is $98,000. The company paid a $36,000 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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