The comparative balance sheet of Barry Company for Years 1 and 2 ended December 31 appears in condensed form as follows: Year 2 Year 1 Cash Total assets Accounts receivable (net) Inventories Investments Equipment Accumulated depreciation-equipment Assets Accounts payable Bonds payable Common stock, $20 par Paid-in capital in excess of par-common stock Relained earnings Total liabilities and stockholders' equity Liabilities and Stockholders' Equity Additional data for the current year are as follows: $72,000 61,000 121,000 515,000 (153,000) $616,000 $59,750 375,000 50,000 131,250 $616,000 $42,500 70,200 105,000 100,000 425,000 (175,000) $567,700 .Net income, $75,800. Depreciation reported on income statement, $38,000. Fully depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000. Bonds payable for $75,000 were retired by payment at their face amount. 2,500 shares of common stock were issued at $30 for cash. Cash dividends declared and paid, $40,000. Investments of $100,000 were sold for $125,000. $47,250 75,000 325,000 25,000 95,450 $567,700 Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
The comparative balance sheet of Barry Company for Years 1 and 2 ended December 31 appears in condensed form as follows: Additional data for the current year are as follows: - Net income, 575,800 . - Depreciation reported on income statement; $36,000. - Fully depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000. - Bonds payable for $75,000 were retired by payment at their face amount. - 2,500 shares of common stock were issued ot 530 for cash. - Cash dividends deciared and paid, $40,000. - Investments of $100,000 were sold for $125,000. Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, of any negative adjustments
