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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits Credits by: Debits by: Cash
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits Credits by: Debits by: Cash $ 145,000 Accounts receivable 170,500 Inventory $ 84,800 Prepaid expenses 4,200 Long-term loans to subsidiaries 114,000 Long-term investments 94,000 Plant and equipment 263,000 Accumulated depreciation 65,800 Accounts payable 49,700 Accrued liabilities 5,700 Income taxes payable Bonds payable 9,100 403,000 Common stock 128,000 Retained earnings 75,600 $806,200 $806,200 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 $35,400. The equipment originally cost $160,600 and it had $126,500 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 $2,935,000 $3,198,800 $ 976,100 $1,041,900 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 $_2 1. 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: 0 0 Investing activities: 0 Financing activities 0 0 Investing activities: Financing activities: 0 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ CA
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