Question

Exercise 23-11 Condensed financial data of Grouper Company for 2017 and 2016 are presented belos GROUPER COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 Cash $1,830 Receivables 1,710 Inventory 1,590 Plant assets 1,890 Accumulated depreciation (1,220) Long-term investments (held-to-maturity) 1,320 $7,120 2016 $1,180 1,320 1.920 1.710 (1,190 ) 1,440 $6,380 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,190 210 1,400 1,940 2.380 57,120 $890 260 1,580 1,660 1.990 $6,380

Answer 1

Statement of Cash Flows
For the Year Ended December 31, 2017
Cash Flows from Operating Activities:
Net income		650
Adjustments to reconcile net income to
Net cash provided by operating activities
Depreciation expense	30
Gain on Sale of investments	-80
Increase in receivables	-390
Decrease in inventory	330
Increase in accounts payable	300
Decrease in accrued liabilities	-50
		140
Net cash provided by operating activities		790
Cash Flows from Investing Activities:
Purchase of Plant Assets	-110
Sale of Held-to-Maturity Investments	200
Net Cash Provided by Investing Activities		90
Cash Flows from Financing Activities
Payment of Cash Dividends	-260
Redemption of Bonds Payable	-180
Issuance of Common Stock	210
Net Cash Used by Financing Activities		-230
Net Increase in Cash		650
Cash at Beginning of Period		1180
Cash at End of Period		1830
Noncash Investing and Financing Activities
Issuance of Common Stock for Plant Assets		70