Business, 06.03.2020 03:20 Tyrant4life

The following information is available for Waterway Industries for the year ended December 31, 2022.

Beginning cash balance $ 51,750
Accounts payable decrease 4,255
Depreciation expense 186,300
Accounts receivable increase 9,430
Inventory increase 12,650
Net income 326,715
Cash received for sale of land at book value 40,250
Cash dividends paid 13,800
Income taxes payable increase 5,405
Cash used to purchase building 332,350
Cash used to purchase treasury stock 29,900
Cash received from issuing bonds 230,000

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e. g. - 15,000 or in parent Bonita Industries.)

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Answer from: harmonytaylor13

Ending cash balance $438,035

Explanation:

Waterway Industries

Statement of cash flows

For the year ended December 31, 2022

Net income $326,715

Cash flow from operating activities:

Depreciation expense 186,300

Accounts payable decrease (4,255)

Accounts receivable increase (9,430)

Inventory increase (12,650)

Income taxes payable increase 5,405

165,370

Net cash provided by operating activities = 492,085

Cash flow from investing activities :

Cash received for sale of land 40,250

Cash used to purchase building (332,350)

Net cash used by investing activities (292,100)

Cash flow from financing activities:

Cash dividends paid (13,800)

Cash used to purchase treasury stock (29,900 )

Cash received from issuing bonds 230,000

Net cash provided from financing activities 186,300

Net changes in cash 386,285

Beginning cash balance 51,750

Ending cash balance $438,035

Answer from: Quest

The activity of providing goods and services involving financial and commercial and industrial aspects.

Answer from: Quest

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The following information is available for Waterway Industries for the year ended December 31, 2022....

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