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Yoric Company listed the net changes in its balance sheet accounts for the past year as...

Yoric Company listed the net changes in its balance sheet accounts for the past year as follows:

Debits > Credits by: Credits > Debits by:

Cash $ 150,100

Accounts receivable 170,500

Inventory $ 64,500

Prepaid expenses 4,800

Long-term loans to subsidiaries 88,000

Long-term investments 99,000

Plant and equipment 247,000

Accumulated depreciation 65,600

Accounts payable 49,300

Accrued liabilities 5,200

Income taxes payable 9,700

Bonds payable 201,000

Common stock 123,000

Retained earnings 75,500 $

676,600 $ 676,600

The following additional information is available about last year’s activities: a. Net income for the year was $ ? . b. The company sold equipment during the year for $35,200. The equipment originally cost $160,500 and it had $126,800 in accumulated depreciation at the time of sale. c. Cash dividends of $10,700 were declared and paid during the year. d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below: Beginning Ending Plant and equipment $ 2,947,000 $ 3,194,000 Accumulated depreciation $ 990,800 $ 1,056,400 e. The balance in the Cash account at the beginning of the year was $109,600; the balance at the end of the year was $ ? . f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change. Required: Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)

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jeff jeffy answered 2 years ago
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