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This question was answered incorrectly multiple times, only have a few questions left on my chegg.. PLS read the question Show all equations, work, and
This question was answered incorrectly multiple times, only have a few questions left on my chegg.. PLS read the question
Show all equations, work, and formulas
Burns Corporation's net income last year was $98,300. Changes in the company's balance sheet accounts for the year appear below:
Increases (Decreases) | |||
Asset and Contra-Asset Accounts: | |||
Cash and cash equivalents | $ | 25,000 | |
Accounts receivable | $ | 14,200 | |
Inventory | $ | (17,100) | |
Prepaid expenses | $ | 4,100 | |
Long-term investments | $ | 11,000 | |
Property, plant, and equipment | $ | 72,100 | |
Accumulated depreciation | $ | 33,800 | |
Liability and Equity Accounts: | |||
Accounts payable | $ | (19,600) | |
Accrued liabilities | $ | 17,300 | |
Income taxes payable | $ | 4,200 | |
Bonds payable | $ | (62,400) | |
Common stock | $ | 42,000 | |
Retained earnings | $ | 94,000 | |
The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $4,300.
Required: include all parts (a, b and c)
a. Prepare the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.)
b. Prepare the investing activities section of the company's statement of cash flows for the year.
c. Prepare the financing activities section of the company's statement of cash flows for the year.
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