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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits by: $ 133,900 170,400 Credits
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits by: $ 133,900 170,400 Credits > Debits by: $ 84,200 4,500 101,000 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 93,000 269,000 65,100 49,100 5,700 10,000 409,000 127,000 76,100 $799,000 $799,000 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 $35,300. The equipment originally cost $160,800 and it had $127.200 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: Plant and equipment Accumulated depreciation Beginning Ending $2,921,000 $3,190,000 $ 989,400 $1,054,500 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 $_?_. 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 Depreciation Gain on sale of equipment Increase in accounts receivable Decrease in inventory Increase in accounts payablo Decrease in accrued liabilities Increase in income taxes payable 0 0 (Net cash provided by operating activities Investing activities Depreciation Gain on sale of equipment Increase in accounts receivable Decrease in inventory Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable 0 0 Net cash provided by operating activities Investing activities: Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $
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