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Total Liabilities and Shareholders' Equity $52,200 $63,450 Additional information: $6,300, receiving $5,400 in cash from the buyer. 2. During fiscal Year 8 , Hoskins Corporation
Total Liabilities and Shareholders' Equity $52,200 $63,450 Additional information: $6,300, receiving $5,400 in cash from the buyer. 2. During fiscal Year 8 , Hoskins Corporation arranged short-term bank financing and borrowed $13,500, using a portion of the cash to repay all of its outstanding long-term debt. 3. During fiscal Year 8 , Hoskins Corporation engaged in no transactions involving its common stock, though it did declare and pay in cash a common stock dividend of $2,250. Prepare a statement of cash flows (all three sections) for Hoskins Corporation's fiscal Year 8, using the indirect method for the cash from operations section. Note: Use a negative sign with your answer to indicate a reduction in cash/cash outflow. Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year ended December 31, Year 8. All amounts are in millions of U.S. dollars. Prepare a statement of cash flows (all three sections) for Hoskins Corporation's fiscal Year 8, using the indirect method for the cash from operations section. Note: Use a negative sign with your answer to indicate a reduction in cash/cash outflow. HOSKINS CORPORATION STATEMENT OF CASH FLOWS FOR YEAR ENDED DECEMBER 31, Year 8 Cash flows from Operations: Net income Depreciation Change in income taxes payable Purchase of equipment Dividends paid Beginning cash balance Decrease in long-term debt Cash Flows from Operating Activities Cash Flows from Investing: Proceeds from disposal of equipment Cash Flows from Investing Activities Cash Flows from Financing Increase in short-term debt Decrease in long-term debt Cash Flows from Financing Activities Net change in cash Ending cash balance $
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