Rojas Corporation\'s comparative balance sheets are presented belovw ROJAS CORPO

Question

Rojas Corporation's comparative balance sheets are presented belovw ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $14,200 $11,000 21,500 19,600 70,100 (15,400) 23,500 25,800 70,100 (10,500) Total $110,000 $119,900 Accounts payable Common stock Retained earning:s $11,900 75,900 22,200 $27,700 73,600 18,600 Total $110,000 $119,900 Additional information: 1. Net income was $22,500. Dividends declared and paid were $18,900. 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,900.

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 22500 Adjustment to reconcile net income to Cash flow from operating activities Depreciation expense 4900 Loss on sale of land 1300 Decrease account receivable 2000 Decrease account payable -15800 -7600 Net cash flow from operating activities 14900 Cash flow from investing activities Land sold 4900 Cash flow from financing activities Issue common Stock 2300 Dividend paid -18900 Net cash flow from financing activities -16600 Net cash flow 3200 Beginning cash 11000 Ending cash 14200

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