Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is a condensed version of the comparative statements of financial position for Riverbed Ltd. for the last 2 years at December 31

image text in transcribedimage text in transcribed

The following is a condensed version of the comparative statements of financial position for Riverbed Ltd. for the last 2 years at December 31 (amounts in millions). 2022 2021 Investments Equipment #60,320 # 85,840 345,680 278,400 Less: Accumulated depreciation-equipment (122,960 ) (103,240) Accounts receivable 208,800 214,600 Cash 182,120 90,480 Share capital-ordinary Retained earnings Current liabilities 185,600 185,600 332,920 205,320 155,440 175,160 Additional information: Investments were sold at a loss of 8,120; no equipment was sold; cash dividends paid were #58,000; and net income was #185,600. Prepare a statement of cash flows for 2022 for Riverbed Ltd. (Show amounts that decrease cash flows with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) RIVERBED LTD Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Decrease in Accounts Receivable Loss on Sale of Investments Decrease in Current Liabilities Net Cash Provided by Operating Activities W 19720 5800 8120 -19720 AA 185600 199520

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Financial Management

Authors: Eugene F. Brigham, Phillip R. Daves

11th edition

978-1111530266

More Books

Students also viewed these Finance questions

Question

Define self-image. (p. 24)

Answered: 1 week ago