CASH FLOW STATEMENT- INDIRECT METHOD | ||
December 31, 2004 | ||
Cash flow from operating activities: | ||
Net Income | $ 1,42,660 | |
Adjustments | ||
Add: Depreciation Expense | $ 35,500 | |
Less: Gain on Sale of Plant Assets | $ -5,000 | |
Change in Working Capital | ||
Increase in Accounts Receivable | $ -43,800 | |
Increase in Inventories | $ -19,250 | |
Increase in Accounts Payable | $ 14,420 | |
Decrease in Wages Payable | $ -6,730 | |
Net Cash Provided by Operating activities (A) | $ 1,17,800 | |
Cash flow of Investing activities | ||
Purchase of Plant Assets (Directly given in question) | $ -1,41,000 | |
Sale of Plant Assets (Directly given in question) | $ 15,000 | |
Sale of Land (Directly given in question) | $ 22,500 | |
Net Cash Used for Investing activities (B) | $ -1,03,500 | |
Cash flow of Financing activities | ||
Common Stock Issued (40000+10000) | $ 50,000 | |
Bonds Issued | $ 70,000 | |
Dividend Paid | $ -75,000 | |
Net Cash Used for Financing activities (C) | $ 45,000 | |
Change in Cash (A+B+C) | $ 59,300 | |
Cash balance December 31, 2003 | $ 83,400 | |
Cash balance December 31, 2004 | $ 1,42,700 | |
$ 59,300 | ||
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