Apex Company Statement of Cash FlowsIndirect Method Operating activities: ...

Apex Company Statement of Cash FlowsIndirect Method
Operating activities:
Net income		$ 40,700
Adjustments to convert net income to cash basis:
Depreciation	$ 21,400
Increase in accounts receivable	(60,600)
Increase in inventory	(26,600)
Decrease in prepaid expenses	10,600
Increase in accounts payable	53,000
Decrease in accrued liabilities	(11,500)
Increase in income taxes payable	4,200	(9,500)
Net cash provided by (used in) operating activities		31,200
Investing activities:
Proceeds from the sale of equipment	15,800
Loan to Thomas Company	(40,000)
Additions to plant and equipment	(121,000)
Net cash provided by (used in) investing activities		(145,200)
Financing activities:
Increase in bonds payable	88,400
Increase in common stock	39,300
Cash dividends	(29,500)
Net cash provided by (used in) financing activities		98,200
Net decrease in cash and cash equivalents		(15,800)
Beginning cash and cash equivalents		28,500
Ending cash and cash equivalents		$ 12,700

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