URGENT URGENT

STILL URGENT

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Che For the year just completed, Hanna Company had net income of $86,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assetat Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities Accounts payable Recrued linbilities Income taxes payable $ 57,000 $ 84,000 $156,000 $196,000 $451,000 $361,000 $ 11,500 $ 13,000 $350,000 $400,000 $7,500 $ 12,500 $ 33,000 $ 26,000 The Accumulated Depreciation account had total credits of $42,000 during the year. Hanna Company did not record any gains or losses during the year. Required: Using the Indirect method, determine the net cash provided by operating activities for the year (List any deduction in cash and cash outflows as negative amounts.) Hanna Company Statement of Cash Flows-Indirect Method (partial The Accumulated Depreciation account had total credits of $42,000 during the year. Hanna Company did not record any gains or losses during the year. Required: Using the Indirect method, determine the net cash provided by operating activities for the year. (List any deduction In cash and cash outflows as negative amounts.) Hanna Company Statement of Cash Flows-Indirect Method (partial) 0 0 $ ! Required Information Problem 15-7 (Algo) Prepare a statement of Cash Flows (LO15-1, LO15-2) [The following information applies to the questions displayed below.) Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 12 229 194 6 441 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Lose accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued libilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock $ 22 294 153 9 478 510 (81 429 28 $ 935 431 (72) 359 34 $834 $ 302 73 72 447 197 644 164 $225 80 64 369 172 541 201 Income taxes payable Total current liabilities Bonde payable Total liabilities Common stock Retained earning Total stockholders' equity Total liabilities and stockholders' equity 72 447 197 644 164 127 291 $ 935 64 369 172 541 201 92 293 $834 Weaver Company Income Statement For This Year Ended December 31 Salon Cout of goods sold Gross margin Selling and administrative expensen Net operating income Nonoperating Item: Gain on sale of investments $ 7 Lons on sale of equipment (1) Income before taxes Income taxes Net income $754 446 308 219 89 6 95 23 $ 72 During this year, Weaver sold some equipment for $19 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term stints for $13 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $37 of its own stock. This year Weaver did not retire any bonds. Problem 15-7 Part 1 (Algo) Required: 1. Using the Indirect method, determine the net cash provided by/used in operating activities for this year. (List any deducu and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial) 0 $ 0