The following information is available for Coronado Industries for the year ended December 31, 2017. Beginning...

The following information is available for Coronado Industries for the year ended December 31, 2017.

Beginning cash balance		$ 46,575
Accounts payable decrease		3,830
Depreciation expense		167,670
Accounts receivable increase		8,487
Inventory increase		11,385
Net income		294,044
Cash received for sale of land at book value		36,225
Cash dividends paid		12,420
Income taxes payable increase		4,865
Cash used to purchase building		299,115
Cash used to purchase treasury stock		26,910
Cash received from issuing bonds		207,000

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Expert Solution

Coronado Industries
Cash Flow Statement
For year ended 31st December 2017

A. Cash Flows from Operating Activity
Net Income		$ 294,044.00
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation expense	$ 167,670.00

Changes in current operating assets and liabilities:
Increase in Accounts receivables	$ (8,487.00)
Increase in Inventory	$ (11,385.00)
Increase in income tax payable	$ 4,865.00
Decrease in Accounts payable	$ (3,830.00)
		$ 148,833.00
Net cash flow from Operating activities		$ 442,877.00

B. Cash flows from Investing Activities
Cash received from sale of land	$ 36,225.00
Purchase of Building	$ (299,115.00)
Net cash flow used for investing activities		$ (262,890.00)

C. Cash Flows from Financing activities
Purchase of treasury stock	$ (26,910.00)
Issue of Bond	$ 207,000.00
Cash paid for dividends	$ (12,420.00)
Cash flows from Financing activities		$ 167,670.00

Net Increase (Decrease) in Cash [A+B+C]		$ 167,670.00
Cash at the beginning		$ 46,575.00
Cash at the end		$ 214,245.00

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