Spenco 2nd Skin 3 in Cir × llins Sport Medicine- \\ D 2017-catalog.pdf CH 21 HW

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Spenco 2nd Skin 3 in Cir × llins Sport Medicine- D 2017-catalog.pdf CH 21 HW C| ezto.mheducation.com/hm.tpx E myseedu Apps CH 21 HW ATSA Coverage: Wes " Welcome TIMOTHY , Heinle Learning Cer South Carolina Stude B 8-Week Diet Plan 0 YouTube Other bookmark Question 3 (of 3) Sove & Eit Submit Time remaining: 12526 33 34 points Comparative balance sheets for 2016 and 2015 and a statement of income for 2016 are given below for Metagrobolize Industries. Additionall information from the accounting records of Metagrobolize also is METAGROBOLIZE INDUSTRIES Comparative Balancs Sheets December 31, 2016 and 2015 (S in 000s) 2016 2015 $ 490 220 280 395 620 800 (200) (170) 2,950 2,690 334) (300) 1,900 2,000 Cash Accounts receivable 530 680 700 800 Land Building Less: Accumulated depreciation Less: Accumulated depreciation Patent $7,516 S6,535 Liabilities Accounts payable Accrued expenses payable Lease lability-land Shareholders Equity Common stock Paid-in capital excess of par Retained earnings S 780 S 630 215 240 150 2,640 2,500 545 3,106 2,645 600 $7,516 S6,535 10:33 PM O Type here to search 12/7/2017

Explanation / Answer

METAGROBOLIZE INDUSTRIES Statement of Cash Flows For the year ended Dec 31,2016 ($ in 100's) Cash Flow from operating activities Net Income 1056 Adjustment for non cash effects Depreciation expenses - building 30 Depreciation expenses - equipment 412 loss on sale of equipment 20 Amortization of patent 100 gain on sale of land -75 cash dividends paid -400 stock dividends paid -195 Changes in current asets and liabilities Increase in Accounts Receivable -250 Increase in Inventory -285 Increase in Accounts payble 150 Increase in Accrued Expense payble -25 538 Cash flow from investing activities Sale of land 120 sale of equipment 22 purchase of equipment -160 -18 Cash flow from financing activities Cash dividends paid -400 Lease liability - land 150 -250 paid in capital Net changes in cash and cash equivalents 270 Opening balances of cash and cash equivalents 220 closing balance of cash and cash equivalents 490 Non cash inveting and financing activities Stock dividend 195 convestion of paid up capital into Shareholders 55

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