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Exercise 15-4 (Algo) Prepare a Statement of Cash Flows [LO15-1, LO15-2] The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation D= Decrease; 1= Increase. $ 12 D $ 16 I $ 42 D $ 11 I $ 13 D $ 275 I $ 58 I Sales Cost of goods sold Gross margin Selling and administrative expenses Liabilities and Stockholders' Equity Accounts Accounts payable $ 38 I Accrued liabilities $ 16 D $ 21 I $ 140 I S 64 D $ 58 I Income taxes payable Bonds payable Common stock Retained earnings Long-term investments that cost the company $13 were sold during the year for $30 and land that cost $29 was sold for $16. In addition, the company declared and paid $10 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock. The company's income statement for the year follows: $ 780 334 446 340

Exerclse 15-4 (Algo) Prepare a Statement of Cash Flows [LO15-1, LO15-2] The following changes took place last year in Pavolik Company's balance sheet accounts: D=Decrease;1increase. Long-term investments that cost the company $13 were sold during the year for $30 and land that cost $29 was sold for $16. in addition, the company declared and paid $10 in cash dividends duing the yeat. Besides the sale of land, no other sales or retirements of plant and equipment took place duing the year. Pavolk did not retie any bonds duing the year or issue any new common stock. The company's income statement for the year follows: Long-term investments that cost the company $13 were sold during the year for $30 and land that cost $29 was sold for $16. In addition, the company declared and paid $10 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolk did not retire ary bonds during the year or issue any new common stock. The company's income statement for the year follows: The company's beginning cash belance was $112 and its ending balance was $100. Required: 1. Use the indirect method to detemine the net cash provided by operating activities for the yoar 2. Prepare a statement of cash flows for the yeat. The company's beginning cash balance was $112 and its ending balance was $100. Required: 1. Use the indirect method to determine the net cash provided by operating activities for the year. 2. Prepare a statement of cash flows for the year. Complete this question by entering your answers in the tabs below. Use the indirect method to determine the net cash provided by operating activities for the year. (Adjuitmont amounts thot are to be deducted should be indicoted with o minus sign.)

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