Statement of Cash Flows The following are several items involving the cash flow activities of the ROCKY...

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Statement of Cash Flows
The following are several items involving the cash flowactivities of the ROCKY HORROR PICTURE CO. for 2016:
Net income, $45,800
Payment of dividends, $14,400
Ten-year, $31,600 bonds payable were issued at face value
Depreciation expense, $24,900
Building acquired at a cost of $38,400
Accounts receivable decreased by $2,900
Accounts payable decreased by $3,000
Equipment acquired at a cost of $5,100
Inventories increased by $5,700
Beginning cash balance, $30,100
Required:
Prepare Rocky Horror Picture's statement of cash flows for 2016using the indirect method. Use a minus sign for any negativeamounts.
ROCKY HORROR PICTURE CO.
Statement of Cash Flows
For Year Ended December 31, 2016
Net Cash Flow From Operating Activities
$
Adjustments for differences between income flows and cash flowsfrom operating activities:
$
Cash Flows From Investing Activities
$
Cash Flows From Financing Activities
$
$
$

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ROCKY HORROR PICTURE CO.
Statement of Cash Flows
For Year Ended December 31, 2016
Net Cash Flow From Operating Activities
Net income	45800
Adjustments for differences between income flows and cash flows from operating activities:
Add: Depreciation expense	24900
Add: Decrease in accounts receivable	2900
Less: Increase in inventories	-5700
Less: Decrease in accounts payable	-3000
Net cash provided by operating activities		64900
Cash Flows From Investing Activities
Payment for purchase of building	-38400
Payment for purchase of equipment	-5100
Net cash used for investing activities		-43500
Cash Flows From Financing Activities
Payment of dividends	-14400
Receipt from issuance of bonds	31600
Net cash provided by financing activities		17200
Net increase in cash		38600
Cash, January 1, 2016		30100
Cash, December 31, 2016		68700

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Transcribed Image Text

Statement of Cash FlowsThe following are several items involving the cash flowactivities of the ROCKY HORROR PICTURE CO. for 2016:Net income, $45,800Payment of dividends, $14,400Ten-year, $31,600 bonds payable were issued at face valueDepreciation expense, $24,900Building acquired at a cost of $38,400Accounts receivable decreased by $2,900Accounts payable decreased by $3,000Equipment acquired at a cost of $5,100Inventories increased by $5,700Beginning cash balance, $30,100Required:Prepare Rocky Horror Picture's statement of cash flows for 2016using the indirect method. Use a minus sign for any negativeamounts.ROCKY HORROR PICTURE CO.Statement of Cash FlowsFor Year Ended December 31, 2016Net Cash Flow From Operating Activities$Adjustments for differences between income flows and cash flowsfrom operating activities:$Cash Flows From Investing Activities$Cash Flows From Financing Activities$$$