Question

202: MT EXAM - CHAP 17 - BALANCE SHEET					C
P1	Pepare a statement of cash flows based on the following information:
		BALANCE SHEET
		20x9	20x8
ASSETS
	CASH	58,000	31,000
	A/R, NET	466,000	469,000
	INVENTORY	341,000	355,000
	LONG-TERM INVESTMENTS	180,000	180,000
	EQUIPMENT, NET	305,000	340,000
	BUILDING, NET	769,500	625,000
	LAND	380,500	300,000
TOTAL ASSETS		2,500,000	2,300,000
LIABILITIES
	A/P	312,000	306,000
	ACCRUED LIABILITIES	158,600	175,000
	INCOME TAXES PAYABLE	32,400	39,000
	B/P	560,000	725,000
	LONG-TERM N/P	57,750
	M/P	184,000
TOTAL LIABILITIES		1,304,750	1,245,000
STOCKOLDERS' EQUITY
	C/S	630,000	600,000
	APIC	152,000	152,000
	R/E	413,250	303,000
TOTAL S/E		1,195,250	1,055,000
TOTAL LIABILITIES & S/E		2,500,000	2,300,000
ADDITIONAL INFORMATION:
1	NI	NI	147,000
2	Depreciation Expense	EQP	35,000	BLDG	85,500
3	Purchased land		80,500
4	Purchased building	COST	230,000	N/P	184,000
5	Paid B/P @ maturity	PD	165,000
6	Issued long-term N/P		57,750
7	Issued C/S	# SH	3,000	PV	10
8	Declared and paid cash dividends		36,750

Answer 1