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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits by: $ 92,500 170,400 Credits
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits by: $ 92,500 170,400 Credits > Debits by: $ 83,900, 4,400 105,000 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 94,000 313,000 65,800 49,400 5,600 9, 300 410,000 129,000 76,700 $804,500 $ 804,500 The following additional information is available about last year's activities: 3. Net income for the year was $ 2 b. The company sold equipment during the year for $35.800. The equipment originally cost $160.900 and it had $126.700 in accumulated depreciation at the time of sale. c. Cash dividends of $10.500 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: c Cash dividends of $10,500 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 $2,879,000 $3, 192,000 $ 975,700 $1,041,500 e The balance in the Cash account at the beginning of the year was $109.200; the balance at the end of the year was $ ? flf 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 Derating activities Investing activities: Financing activities Beginning cash and cash equivalents Ending cash and cash equivalents
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