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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Cash and cash equivalents Accounts receivable Inventory
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Debits > Credits by: Credits > Debits by: $141,700 170,400 $ 84,300 4,700 116,000 Long-term investments 90,000 Plant and equipment 269,000 Accumulated depreciation 65,300 Accounts payable 49,400 Accrued liabilities 5,500 Income taxes payable 9,700 Bonds payable 409,000 Common stock 128,000 Retained earnings 75,600 $809,300 $809,300 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 $35,000. The equipment originally cost $161,000 and it had $128,000 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 Beginning Ending $2,929,000 $3,198,000 Accumulated depreciation $ 980,700 $1,046,000 e. The balance in the Cash account at the beginning of the year was $109,300; 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 $ 85,900 0 85,900 Investing activities: Financing activities: 0 0 85,900 Beginning cash and cash equivalents Ending cash and cash equivalents $ 85,900
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