Question

2 of 3 (0 complete) X i Data Table O'Malley Office Machines, Inc. sh 2017 December 31 2018 Current assets: fo Cash and cash equivalents... 83,400 $ 21,000 69,100 Accounts receivable 64,700 83,800 79,200 Inventory Current liabilities: $ 58,800 $ 55,700 Accounts payable Income tax payable. 13,900 17,100 Print Done

Answer 1

Statement of Cash Flows - Indirect Approach
	Amount in $	Amount in $
Net income		$             57,800
Cash flows from operating activities
Adjustments for reconcile the net income to:
Depreciation	$             21,500
Loss on sale of Equipment	$             11,000
Increase in account receivable	$              -4,400
Decrease in inventory	$                4,600
Increase on account payable	$                3,100
Decrease in income tax payable	$              -3,200
		$             32,600
Net cash from operating activities		$             90,400
Cash flows from investing activities
Purchase of Building	$        -1,23,000
Sale of Equipment	$             49,000
Net cash used in investing activities		$            -74,000
Cash flows from Financing activities
Redumption of bonds payable
Issue of long term note	$             38,000
Purchase of Treasury Stock	$            -14,900
Dividend Paid	$            -18,100
Issue of Common Stock	$             41,000
Net cash used in financing activities		$             46,000
Net increase in cash and cash equivalents		$             62,400
Add :Cash and cash equivalents at beginning of period		$             21,000
Cash and cash equivalents at end of period		$             83,400