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  3. burns corporation's net income last year was $96,5

Burns Corporation's net income last year was $96,500. Changes in the company's balance sheet accounts...

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Accounting

Burns Corporation's net income last year was $96,500. Changes in the company's balance sheet accounts for the year appear below:

Increases (Decreases)
Asset and Contra-Asset Accounts:
Cash and cash equivalents $ 25,100
Accounts receivable $ 13,500
Inventory $ (17,600)
Prepaid expenses $ 4,100
Long-term investments $ 10,600
Property, plant, and equipment $ 71,400
Accumulated depreciation $ 34,100
Liability and Equity Accounts:
Accounts payable $ (19,400)
Accrued liabilities $ 16,300
Income taxes payable $ 4,300
Bonds payable $ (62,400)
Common shares $ 42,000
Retained earnings $ 92,200

The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common shares during the year. The company declared and paid a cash dividend of $4,300.

Required:

a. Prepare the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.)

b. Prepare the investing activities section of the company's statement of cash flows for the year.

c. Prepare the financing activities section of the company's statement of cash flows for the year.

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