ezto.mheducation.com/hm.tpx Comparative financial statement data for Carmono Com

Question

ezto.mheducation.com/hm.tpx Comparative financial statement data for Carmono Company folow Assets Cash Accounts receivable Inventory 6.50 $12.00 40.00 39.00 87.50 74.00 Total current assets 140.00 125.00 Property. plant, and equipment 22500 10.00 Less accumulated depreciation 44.00 33.00 181.00 157.00 Net property, plant, and equipment 321.00 282.00 Total assets Liabilities and Stockholders Equity Accounts payable 52.50 44.00 110.00 85.00 58.50 153.00 Common stock Retained earnings Total liabilities and stockholders equity and stockhoiders equity321.00 282 00 For this year, the company reportes net inoorme as folows Sales Cost of goods sold 5750.00 450 00 Type here to search TOSHIBA

Explanation / Answer

Carmono Company Statement of cash flow - Indirect method For the year ended December 31 Operating activities Net Income $20.00 Adjustment for convert net income to a cash basis Depreciation $11.00 Increase in accounts receivable -$7.00 Increase in Inventory -$13.50 Increase in accounts payable $8.50 Net adjustment -$1.00 Net cash provided by operating activities $19.00 Investing activities Purchase of property, plant, and equipment -$35.00 Net cash used in investing activities -$35.00 Financing activities Dividend Paid -$14.50 Issued common stock $25.00 Net cash provided by financing activities $10.50 Net cash used -$5.50 Opening cash balance $12.00 Closing cash balance $6.50

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