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Chandler Company's net income last year was $98,000, and cash dividends declared and paid to the company stockholders was $13,000. Changes in selected balance sheet
Chandler Company's net income last year was $98,000, and cash dividends declared and paid to the company stockholders was $13,000. Changes in selected balance sheet accounts for the year are as follows: Increases (Decreases) $ (3,000) 1,000 (1,000) 13,000 70,000 45,000 Debit balances: Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant and equipment Credit balances: Accumulated depreciation Accounts payable Accrued liabilities Taxes payable Bonds payable Common stock Retained earnings 61,000 (11,000) (9,000) 9,000 (50,000) 40,000 85,000 The net cash flows from financing activities to be reported in the statement of cash flows are: a. 510,000 b. 5423,000)
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