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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Credits > Debits by: Debits > Credits by:
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Credits > Debits by: Debits > Credits by: $ 135,400 170,600 $ 84,500 4,600 104,000 96,000 249,000 Cash Accounts receivable Inventory Prepaid expenses Long-tern loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 65,000 49,500 5,700 9,300 402,000 129,000 76,000 $790,300 $ 790,300 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 $35,800. The equipment originally cost $160,100 and it had $125,700 in accumulated depreciation at the time of sale. c. Cosh 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 Plant and equipment Accumulated depreciation Beginning Ending $2,945,000 $3,194,900 $ 986,900 $1,051, NO 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 $_? 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.)
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