Question

1. financial statements are as follows: [11] Balance Sheet on: Dec 31, 2019 Dec 31, 2018 | Increase -0 Cash: 120,200 | 70,000 50,200 Accounts receivable: 120,100 90,000 30,100 Inventories: 160,100 | 140,000 20,100 Property and Equipment, Cost: 190,400 | 150,000 | 40,400 Accumulated Depreciation: (46,000)|(16,000) (30,000) Goodwill: 67,000 | 12,000 55,000 Investments: 113,400 68,000 45,400 Total assets: 725,200 514,000 211,200 Accounts payable: 160,400 146,000 14,400 Short term borrowings: 70,800 | 76,000 (5,200) Notes payable, Long-term: 60,000 4,000 56,000 Capital Surplus (no Par): 322,000 258,000 64,000 Retained earnings: 112,000 30,000 82,000 Total Liabilities and Equity: 725,200 | 514,000 | 211,200 had acquired 100% of for cash on Dec 28, 2019. Christian Corp. acquired no other companies during the year. Yilmaz Inc. Balance Sheet on Dec 28, 2019 is as follows: Cash: 10,000 Accounts receivable: 22,000 Inventories: 31,000 Property and Equipment (Net): 27,000 Accounts payable: 16,000 Stockholders Equity: 74,000 O- Cash dividends of $21200 were charged to retained earnings and paid during the year. The transfer of net income to retained earnings was the only other entry in the Retained Earnings account. No Property and Equipment was sold during 2019. Net income for the year was $103200. What will be the Cash Flow from Operations for Christian Corp. in 2019?

1st Balance sheet is for Christian Corp.

2nd balance sheet is a company Christian Corp. acquired 100% of for Cash.

What will be the net of the cash flow statement, specifically the operations section for Christian Corp. in 2019?

Answer 1

Cash flow statement is given for standalone and consolidated basis also $103,200 Christian Corp Statement of Cash flows (Indirect method) For the Year Ended December 31, 2019 Cash flows from Operating Activities Net Profit Adjustments to reconcile net profit to net cash provided by Operating Activities Depreciation expense $30,000 Change in operating current assets and liabilities Increase in Accounts receivable -$30,100 Increase in Inventory -$20,100 Increase in Accounts payable $14,400 -$5,800 $97,400 Net Cash from Operating Activities Christian Corp Consolidated Statement of Cash flows (Indirect method) For the Year Ended December 31, 2019 Cash flows from Operating Activities Net Profit $103,200 Adjustments to reconcile net profit to net cash provided by Operating Activities Depreciation expense $30,000 Change in operating current assets and liabilities Increase in Accounts receivable -$52,100 Increase in Inventory -$51,100 Increase in Accounts payable $30,400 -$42,800 Net Cash from Operating Activities $60,400