Question

13. PR. 13-05 .AP.1.AND.AP2.BLANKSHEET.ALGO (Algorithmic) Statement of cash flows-direct method applied to PR 13-1A Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is as follows Dec. 31,20Y3 Dec. 31,20Y Assets 625,650.00 228,170.00 41,480.00 0.00 328,170.00 706,070.00 $586,340.00 208,030.00 617,130.00 240,290.00 0.00 552,300.00 165,580.00(147,010.00) 2363,960.00 $2,057,080.00 3 Cash 4 Accounts receivable (net) 5 Inventories 6 Investments 7 Land 8 Equipment 9 Accumulated depreciation-equipment 0 Total assets Liabilities and Stockholders' Equity $404,860.00 52,880.00 19,880.00 100,000.00 280,000.00 1,199,460.00 2,363,960.00 $2,057,080.00 $424,300.00 41,850.00 3,200.00 150,000.00 417,500.00 1,307,110.00 2Accounts payable (merchandise creditors) 3 Accrued expenses payable (operating expenses) 14 Dividends payable 15 Common stock, $2 par 16 Paid-in capital: Excess of issue price over par-common stock 7 Retained earnings 18 Total liabilities and stockholders equity

Answer 1

LIVERS INC
Cash Flow Statement
For the Year Ended December 31, 20Y3
Cash flows from operating activities
Cash received from customers	$   5,357,989		5378129+208030-228170
Cash paid to suppliers	$ (3,311,420)		3306510+404860-424300+641480-617130
Cash paid for operating expenses	$ (1,766,909)		1755879+52880-41850
Cash paid for income tax	$     (133,650)
Net cash flow from operating activities		$   146,010
Cash flows from investing activities
Cash paid for purchase of Land	$     (328,170)
Cash paid for purchase of Equipment	$     (153,770)
Cash received from sale of investment	$       280,680
Net cash flow used for investing activities		$ (201,260)
Cash flows from financing activities
Cash paid for dividend	$       (92,940)		96260+19880-23200
Cash received from sale of common stock	$       187,500
Net cash flow from financing activities		$      94,560
Net Increase in cash and cash equivalents		$      39,310
Cash and cash equivalents at beginning of period		$   586,340
Cash and cash equivalents at end of period		$   625,650

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