Homework Answers
|
EHRENS CORPORATION CASH FLOW STATEMENT FOR THE YEAR ENDED DECEMBER 31 2009 |
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| Cash flow from operating activity | ||
| Net income | 43650 | |
| Adjustment to reconcile net income to cash flow | ||
| Depreciation expense | 29400 | |
| loss on sale of equipment | 8400 | |
| Increase in accounts receivable (32180-29400) | -2780 | |
| Increase in merchandise inventory (73125-61710) | -11415 | |
| Increase in accounts payable (65000-40380) | 24620 | |
| Increase in income taxes payable (10725-10200) | 525 | 48750 |
| Cash flow from operating activity [A] | 92400 | |
| Cash flow from investing activity | ||
| Purchase of equipment | -67550 | |
| sale of long term investment [56400-55900] | 500 | |
| sale of old equipment | 2100 | ` |
| Net cash flow from investing activity [B] | -64950 | |
| Cash flow from financing activity | ||
| Retirement of bond payable (66000-48750) | -17250 | |
| Issue of common stock [(117000+13000)-(96000+9000)] | 25000 | |
| Dividend paid | -33600 | |
| Net cash flow from financing activity [C] | -25850 | |
| Net increase/(decrease)in cash during the year [A+B+C] | 1600 | |
| Cash at beginning | 23040 | |
| cash at end | 24640 | |
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