Homework Answers
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NISSEN LTD. Statement of Cash Flows For the Year Ended December 31, 2011 |
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Cash flow from operating activities |
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Net income |
86400 |
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Adjustments to reconcile net income to net cash flow |
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Depreciation expense |
34400 |
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Loss on sale of equipment |
3200 |
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Gain on sale of long-term investment |
(9600) |
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Increase in accounts receivable |
(42400) |
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Increase in inventories |
(25600) |
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Decrease in accounts payable |
(14900) |
(54900) |
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Net cash flow provided by operating activities |
31500 |
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Cash flow from investing activities |
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Purchase of equipment |
(16000) |
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Sale of long term investment |
24000 |
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Sale of equipment |
5600 |
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Net cash used by investing activities |
13600 |
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Cash flow from financing activities |
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Issuance of bonds payable |
20000 |
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Payment of cash dividends |
(39500) |
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Net cash provided by financing activities |
(19500) |
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Net increase in cash |
25600 |
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Cash at beginning of period |
28800 |
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Ending cash balance, Dec. 31, 2019 |
54400 |
Dividends = retained earnings beginning + net income – retained earnings ending - increase in dividends payable = 68800+86400-115200-500 = 39500
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