Any help would be very much appreciated!
Homework Answers
| Sarasota Company | ||
| Cash flow statement | ||
| For the period ended December 31,2017 | ||
| $ | $ | |
| Cash from operating activity; | ||
| Net income for the year | 222735 | |
| Adjustments to reconcile net income to; | ||
| Add:Depreciation expenses | 81,430 | |
| Add: Decerease in inventory ( $ 452,655 - $ 399,965 ) | 52,690 | |
| Less: Increse in Accounts receivable ( $ 210,760 - $ 182,020 ) | (28,740) | |
| Less: Decrease in Accounts Payable ( $ 102,985 - $ 93,405 ) | (9,580) | |
| Cash from operating activity ( A ) | 318,535 | |
| Cash from financing activity; | ||
| Issue of common stock | 100,590 | |
| Dividend declared and paid | (93,405) | |
| Redemption of Bond payable | (119,750) | |
| Cash from financing activity ( B ) | (112,565) | |
| Cash from investing activty; | ||
| Acquisition of Equipment ( $ 622,700 - $ 479,000 ) | (143,700) | |
| Sale of Land ($ 239,500 - $ 191,600 ) | 47,900 | |
| Cash from investing activty ( C ) | (95,800) | |
| Net Cash flow ( A ) + (B ) + ( C ) | 110,170 | |
| Add: Beginnig balance of cash | 52,690 | |
| Ending cash balance | 162,860 | |
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