Dec. 31,2016 Dec. 31,2015 Assets $678,670.00 546,500.00 983,300.00 239,830.00 0.

Question

Dec. 31,2016 Dec. 31,2015 Assets $678,670.00 546,500.00 983,300.00 239,830.00 0.00 680,730.00 244,84000(200,10000 3,376,910.00 $2,928,930.00 $643,740.00 567,590.00 1,010,270.00 0.00 520,160.00 879,990.00 3 Cash 4Accounts receivable (net) 5 Inventories Land 8 Equipment 9 Accumulated depreciation-equipment 10 Total assets Liabilities and Stockholders' Equity $748,100.00 71,400.00 5,880.00 32,000.00 192,000.00 2,070,550.001,879,550.00 3,376,910.00 $2,928,930.00 $771,010.00 63,500.00 7,850.00 56,000.00 408,000.00 2 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) 14 Dividends payable 15 Common stock, $2 par 6 Paid-in capital: Excess of issue price over par-common stock 17 Retained earnings 18 Total liabilities and stockholders' equity

Explanation / Answer

Statement of Cash Flows AS ON DECEMBER 31 2016 Amount in $ Amount in $ Net income (Net income Less Deferred tax liabiltity $ 10) $    2,19,700.00 Cash flows from operating activities Adjustments for: Depreciation $       44,740.00 Loss on sale of Equipment $       64,530.00 (Increase) / Decrease in Account receivables $      -21,090.00 Inventory Decrease / (Increase) $      -26,970.00 Deffered Tax Liability Accrued Expenses $        -7,900.00 Dividend Payable $          1,970.00 Accounts payable Increase / ( Decrese) $       22,910.00 Net cash from operating activities $       78,190.00 Cash flows from investing activities Sale of Investment $    1,75,300.00 Purcahse of Land $ -5,20,160.00 Purchase of Equipment $ -1,99,260.00 Net cash used in investing activities $ -5,44,120.00 Cash flows from Financing activities Purchase of Treasury Stock Long Term Debt Dividend Paid $      -28,700.00 Issue of Common Stock $    2,40,000.00 Net cash used in financing activities $    2,11,300.00 Net increase in cash and cash equivalents $      -34,930.00 Add :Cash and cash equivalents at beginning of period $    6,78,670.00 Cash and cash equivalents at end of period $    6,43,740.00

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