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Problem 14-11 Missing Data; Statement of Cash Flows (LO14-1, LO 14-2] Yoric Company listed the net changes in its balance sheet accounts for the past
Problem 14-11 Missing Data; Statement of Cash Flows (LO14-1, LO 14-2] Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Credits > Debits by: Debits > Credits by: $ 118,900 170,300 $ 84,100 4,200 103,000 99,000 267,000 Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 66,000 48,800 5,900 9,600 402,000 124,000 75,800 $789,300 $ 789,300 The following additional information is available about last year's activities: a. Net income for the year was $_?_ b. The company sold equipment during the year for $35,300. The equipment originally cost $160,400 and it had $126,300 in accumulated depreciation at the time of sale. C. Cash dividends of $10,300 were declared and paid during the year. d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below: Plant and equipment Accumulated depreciation Beginning Ending $2,928,000 $3,195,000 $ 982,300 $1,048,300 e. The balance in the Cash account at the beginning of the year was $109,900; the balance at the end of the year was $_? f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change. Required: Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) Yoric Company Statement of Cash Flows Operating activities: Net income 0 ... ..................................................................... . . ....... Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents
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