The following information is available for Ivanhoe Company for the year ended December 31, 2017. Beginning...

The following information is available for Ivanhoe Company for the year ended December 31, 2017.

Beginning cash balance $ 49,635

Accounts payable decrease 4,081

Depreciation expense 178,686

Accounts receivable increase 9,045

Inventory increase 12,133

Net income 313,362

Cash received for sale of land at book value 38,605

Cash dividends paid 13,236

Income taxes payable increase 5,184

Cash used to purchase building 318,767

Cash used to purchase treasury stock 28,678

Cash received from issuing bonds 220,600

Prepare a statement of cash flows using the indirect method

Solutions

Expert Solution

Prepare a statement of cash flows using the indirect method

Cash flow from operating activities
Net income		313362
Adjustment to reconcile net income to net cash flow from operating activities
Depreciation expense	178686
Accounts payable decrease	-4081
Accounts receivable increase	-9045
Inventory increase	-12133
Income tax payable increase	5184
		158611
Net cash flow from operating activities		471973
Cash flow from investing activities
Cash received for sale of land at book value	38605
Cash used to purchase building	-318767
Net cash used in investing activities		-280162
Cash flow from financing activities
Dividend paid	-13236
Purchase treasury stock	-28678
Issue bonds	220600
Net cash flow from financing activities		178686
Net cash increase (decrease)		370497
Beginning Cash		49635
Ending Cash		420132

ekkarill92 answered 1 year ago

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