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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits by: Credits > Debits by:

Yoric Company listed the net changes in its balance sheet accounts for the past year as follows:

Debits > Credits by: Credits > Debits by:
Cash $ 161,000
Accounts receivable 171,000
Inventory $ 65,000
Prepaid expenses 4,700
Long-term loans to subsidiaries 85,000
Long-term investments 92,000
Plant and equipment 247,000
Accumulated depreciation 65,500
Accounts payable 49,800
Accrued liabilities 5,700
Income taxes payable 9,600
Bonds payable 205,000
Common stock 125,000
Retained earnings 76,500
$ 681,400 $ 681,400

The following additional information is available about last years activities:

a. Net income for the year was $ ? .
b. The company sold equipment during the year for $35,100. The equipment originally cost $160,700 and it had $126,900 in accumulated depreciation at the time of sale.
c. Cash dividends of $10,100 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:

Beginning Ending
Plant and equipment $ 2,948,000 $ 3,195,000
Accumulated depreciation $ 983,400 $ 1,048,900

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.)

York Company

Statement of cash flow- Indirect method

Net Income 70,000

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