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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Cash Accounts receivable Inventory Prepaid expenses Long-term
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Debits > Credits > Credits by: Debits by: $ 90,600 170,200 $ 84,300 4,600 107,000 Long-term investments 95,000 Plant and equipment 320,000 Accumulated depreciation 65,100 Accounts payable 48,200 Accrued liabilities 5,300 Income taxes payable 9,900 Bonds payable 409,000 Common stock 124,000 Retained earnings 77,000 $805,100 $805,100 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 $35,900. The equipment originally cost $160,600 and it had $126,700 in accumulated depreciation at the time of sale. c. Cash dividends of $10,700 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 $2,877,000 $3,197,000 $ 984,600 $1,049,700 e. The balance in the Cash account at the beginning of the year was $109,600; 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: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents
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