The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 follow. 2017...

The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 follow.

	2017		2016
Cash	$29,000		$34,900
Accounts receivable (net)	55,200		44,900
Inventory	64,900		44,600
Prepaid expenses	15,100		24,900
Equipment	90,100		75,600
Accumulated depreciation—equipment	(18,200	)	(7,200	)
Land	80,600		39,800
	$316,700		$257,500
Accounts payable	$67,200		$53,300
Accrued expenses	14,800		17,900
Notes payable—bank, long-term	–0–		23,000
Bonds payable	29,700		–0–
Common stock, $10 par	198,700		157,900
Retained earnings	6,300		5,400
	$316,700		$257,500

Land was acquired for $40,800 in exchange for common stock, par $40,800, during the year; all equipment purchased was for cash. Equipment costing $10,100 was sold for $2,200; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year.

Compute net cash provided (used) by:

(a)		Operating activities.
(b)		Investing activities.
(c)		Financing activities.

(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

(a)	Net cash select an option used or provided by operating activities	$enter a dollar amount
(b)	Net cash select an option used or provided by investing activities	$enter a dollar amount
(c)	Net cash select an option provided or used by financing activities	$enter a dollar amount

Expert Solution

ekkarill92 answered 2 years ago

The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 are shown...

The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 are shown below. 2017 2016 Cash $29,800 $35,300 Accounts receivable (net) 54,500 44,900 Inventory 65,000 44,900 Prepaid expenses 15,200 24,700 Equipment 90,000 74,700 Accumulated depreciation—equipment (18,000 ) (8,100 ) Land 70,500 40,000 $307,000 $256,400 Accounts payable $64,900 $51,700 Accrued expenses 15,000 17,800 Notes payable—bank, long-term –0– 22,800 Bonds payable 30,000 –0– Common stock, $10 par 188,000 157,500 Retained earnings 9,100 6,600 $307,000 $256,400 Land was acquired...

The balance sheet data of Pronghorn Company at the end of 2017 and 2016 follow. 2017...

The balance sheet data of Pronghorn Company at the end of 2017 and 2016 follow. 2017 2016 Cash $29,000 $35,400 Accounts receivable (net) 55,400 44,500 Inventory 64,300 44,600 Prepaid expenses 15,200 25,000 Equipment 90,800 74,800 Accumulated depreciation—equipment (18,100 ) (8,800 ) Land 79,900 39,600 $316,500 $255,100 Accounts payable $63,600 $49,000 Accrued expenses 15,000 18,000 Notes payable—bank, long-term –0– 22,800 Bonds payable 30,200 –0– Common stock, $10 par 200,400 160,100 Retained earnings 7,300 5,200 $316,500 $255,100 Land was acquired for $40,300...

Condensed financial data of Ivanhoe Company follow. Ivanhoe Company Comparative Balance Sheets December 31 Assets 2017...

Condensed financial data of Ivanhoe Company follow. Ivanhoe Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash $ 92,920 $ 55,660 Accounts receivable 100,970 43,700 Inventory 129,375 118,278 Prepaid expenses 32,660 29,900 Long-term investments 158,700 125,350 Plant assets 327,750 278,875 Accumulated depreciation (57,500 ) (59,800 ) Total $784,875 $591,963 Liabilities and Stockholders’ Equity Accounts payable $ 117,300 $ 77,395 Accrued expenses payable 18,975 24,150 Bonds payable 126,500 167,900 Common stock 253,000 201,250 Retained earnings 269,100 121,268 Total $784,875 $591,963...

Balance Sheet Calculations Dawson Company's balance sheet information at the end of 2016 and 2017 is...

Balance Sheet Calculations Dawson Company's balance sheet information at the end of 2016 and 2017 is as follows: 2016 2017 Current assets $ (a) $25,000 Long-term liabilities (b) 34,900 Total contributed capital (c) (g) Long-term investments 19,200 (h) Retained earnings 51,300 61,100 Total liabilities (d) (i) Intangible assets 10,400 9,000 Current liabilities 14,500 12,000 Common stock, $5 par (e) 20,000 Total assets 142,800 (j) Additional paid-in capital 15,000 (k) Property, plant, and equipment (net) 85,700 92,800 Accumulated other comprehensive income...

The 2016 and 2017 financial statements of Ken’s Sportswear follow: Balance Sheet 2017 2016 Assets Cash...

The 2016 and 2017 financial statements of Ken’s Sportswear follow: Balance Sheet 2017 2016 Assets Cash $9,000 $7,000 Accounts receivable 12,000 9,000 Inventory 18,000 15,000 Property, plant, and equipment 60,000 50,000 Total assets $99,000 $81,000 Liabilities and Shareholders’ Equity Accounts payable $16,500 $12,000 Notes payable 46,000 40,000 Common stock 25,000 25,000 Retained earnings 11,500 4,000 Total liabilities and equity $99,000 $81,000 Income Statement Sales (all on credit) $72,000 Less: Cost of goods sold 30,000 Gross profit $42,000 Operating expenses 12,000...

Quinn Company’s balance sheet information at the end of 2016 and 2017 is as follows:

Quinn Company’s balance sheet information at the end of 2016 and 2017 is as follows:2016 2017Total shareholders’ equity$ (n)$ 145,600Accumulated other comprehensive income14,8005,000Current liabilities(m)24,900Intangible assets15,00013,900Property, plant, and equipment (net)(l)96,700Current assets25,000(j)Total contributed capital123,900(i)Long-term liabilities(k)78,000Retained earnings67,850(h)Total assets(e)(d)Common stock, $5 par(f)(c)Working capital23,50033,800Additional paid-in capital(g)45,000Long-term investments28,900(b)Total liabilities5,500(a)At the end of 2016, additional paid-in capital was twice the amount of common stock. During 2017 the company issued 1,000 shares of common stock.Required:Fill in the blanks lettered a through n. It is not necessary...

Lansing Company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow.

Lansing Company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow. LANSING COMPANYIncome StatementFor Year Ended December 31, 2017 Sales revenue $ 148,200 Expenses Cost of goods sold 59,000 Depreciation expense 20,500 Salaries expense 35,000 Rent expense 10,700 Insurance expense 5,500 Interest expense 5,300 Utilities expense 4,500 Net income $ 7,700 LANSING COMPANYSelected Balance Sheet Accounts At...

The equity sections from Atticus Group’s 2016 and 2017 year-end balance sheets follow.

Problem 11-4A Analysis of changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The equity sections from Atticus Group’s 2016 and 2017 year-end balance sheets follow. Stockholders’ Equity (December 31, 2016) Common stock—$4 par value, 100,000 shares authorized, 35,000 shares issued and outstanding $ 140,000 Paid-in capital in excess of par value, common stock 100,000 Retained earnings 320,000 Total stockholders’ equity $ 560,000 Stockholders’ Equity (December 31, 2017) Common stock—$4 par...

The Sage Corporation prepared, for 2017 and 2016, the following balance sheet data: December 31 2017...

The Sage Corporation prepared, for 2017 and 2016, the following balance sheet data: December 31 2017 2016 Cash .................................... $ 87,375 $ 63,750 Available-for-sale securities (not cash equivalents) ......................... 17,250 105,000 Accounts receivable ..................... 90,000 86,250 Merchandise inventory ................... 187,500 163,500 Prepaid insurance ....................... 1,125 1,500 Land, buildings, and equipment ......... 1,378,875 1,087,500 Accumulated depreciation ................ (558,750) (498,750) Total ................................. $1,203,375 $1,008,750 Accounts payable ........................ $ 153,375 $ 236,250 Salaries payable ........................ 18,750 26,250 Notes payable--bank (current) ........... 37,500 150,000...

Question: Ivanhoe Company's balance sheet at December 31, 2021, is presented below. Ivanhoe Company Balance... During...

Question: Ivanhoe Company's balance sheet at December 31, 2021, is presented below. Ivanhoe Company Balance... During January 2022, the following transactions occurred. Ivanhoe uses the perpetual inventory method. Jan. 1 Ivanhoe accepted a 4-month, 8% note from Betheny Company in payment of Betheny’s $1,200 account. 3 Ivanhoe wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company ($300). 8 Ivanhoe purchased $15,630 of inventory on account. 11 Ivanhoe sold for $25,500 on account inventory that cost $17,210....

Question