Exercise 23-12 Condensed financial data of Carla Company for 2017 and 2016 are p

Question

Exercise 23-12 Condensed financial data of Carla Company for 2017 and 2016 are presented below. CARLA COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2016 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2017 $1,820 $1,140 1,780 1,590 1,860 1,870 (1,220) (1,150) 1,270 1,290 1,710 1,420 $7,110$6,270 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $880 240 1,580 1,680 1,890 $7,110$6,270 $1,170 210 1,390 1,930 2,410

Explanation / Answer

Statement of Cash Flows 2017 Cash flows from operating activities Cash receipts from customers       6,440.00 Cash paid to suppliers and employees    (4,120.00) Cash generated from operations       2,320.00 Selling & Distribution Expenses Paid       (940.00) Accrued Liabilities paid         (30.00) Income taxes paid       (540.00) Dividends paid                 -   Net cash from operating activities          810.00 Cash flows from investing activities Sale of held-to-maturity investments          230.00 Purchase of plant assets         (90.00) Net cash used in investing activities          140.00 Cash flows from financing activities Issuance of capital stock          180.00 Redemption of bonds payable       (190.00) Payment of cash dividend       (260.00) Net cash used in financing activities       (270.00) Net increase in cash and cash equivalents          680.00 Cash and cash equivalents at beginning of period       1,140.00 Cash and cash equivalents at end of period      1,820.00 Cash Balance Control Total                 -   Notes to the Statement of Cash Flows 2017 Cash flows from operating activities Income before taxation       1,320.00 Adjustments for: Depreciation            70.00 Investment income         (80.00) Interest expense                 -   Profit / (Loss) on the sale of property, plant & equipment                 -   Working capital changes: (Increase) / Decrease in trade and other receivables       (490.00) (Increase) / Decrease in inventories          270.00 Increase / (Decrease) in trade payables          290.00 Increase / (Decrease) in Accrued Liability         (30.00) Cash generated from operations       1,350.00

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