Question

Carlson Corporation accountants assembled the following data for the year ended December 31, 2016 (Click the icon to view the current accounts.) iData Table Requirement 1. Prepare Carlson Corporation's statement of cash flows usi financing activities on an accompanying schedule Complete the statement one section at a time, beginning with t numbers to be subtracted.) Carlson Corporation December 31 Current assets: Cash and cash equivalents Accounts receivable 2016 2015 Carlson Co Statement of Year Ended Dece $ 77,800 $ 20,000 64,700 84,000 69,200 Cash flows from operating activities .78,800 Net income Current liabilities: Accounts payable Income tax payable Adjustments to reconcile net income to net cash $ 58,600 $ 55,000 16,600 provided by (used for) operating activities: 13,700 PrintDone Data Table Net cash provided by (used for) operating acti Cash flows from investing activities Transaction Data for 2016 $ 57,000 14,800 36,900 12,500 19,000 21,800 39,000 129,000 67,000 52,000 Net cash provided by (used for) investing activ Cash flows from financing activities Issuance of common stock for cash Payment of cash dividends.. .. Depreciation expense Issuance of long-term note payable in exchange for cash Purchase of building for cash Retirement of bonds payable by issuing common stock. . . . . Sale of equipment for cash. Net cash provided by (used for) financing acti Net increase (decrease) in cash: Cash balance, December 31, 2015 Cash balance, December 31, 2016 Print Done Noncash investing and financing activities Choose from any list or enter any number in the input fields and then continue to the next question

Answer 1

Statement of Cash Flows (Indirect Method) Carlson Corporatiom Statement of Cash Flows For the Years Ending December 31, 2016 Particulars Amount Cash flows from operating activities Net income before tax Adjustments to reconcile net income to cash provided by operating activities: $57,000.00 $21,800.00 $12,500.00 Depreciation expense Loss on sale of equipment Net change in Accounts Receivable Net change in Inventory Net change in Accounts Payables Net change in tax payable $4,500.00-(69,200-64,700) $5,200.00-(78,800-84,000) 3,600.00 58,600-55,000 2,900.0013,700-16,600 $92,700.00 $19,000.00 $73,700.00 Ca sh generated from operations Dividend Paid Net Cas h provided by Operating Activities Cash flows from investing activities Proceeds from sell of equipment Cash paid for purchase of Building $52,000.00 $129,000.00 $77,000.00 Net cash used in investing activities Cash flows from financing activities Proceeds from issuance of long term note payable Proceeds from issue of stock Cash used to purchase treasury stock $39,000.00 $36,900.00 $14,800.00 $61,100.00 Net cash provided by financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period $57,800.00 $20,000.00 $77,800.00 Cash Balance as per final balance sheet $77,800.00 Difference in closing balance $0.00