Prepare a statement of cash flows—indirect method The financial statements of Pouchie Co. included the following information for the year ended December 31, 2010 (amounts in millions):
Depreciation and amortization expense | $ 520 |
Cash dividends declared and paid | 660 |
Purchase of equipment | 1,640 |
Net income | 768 |
Beginning cash balance | 240 |
Proceeds of common stock issued | 296 |
Proceeds from sale of building (at book value) | 424 |
Accounts receivable increase | 32 |
Ending cash balance | 80 |
Inventory decrease | 76 |
Accounts payable increase | 88 |
Required:
Complete the following statement of cash flows, using the indirect method:
POUCHIE CO. Statement of Cash Flows For the Year Ended December 31, 2010 | |
Cash Flows from Operating Activities: Net income Add (deduct) items not affecting cash: | $ 768 |
Net cash provided (used) by operating activities Cash Flows from Investing Activities: | $ |
Net cash provided (used) by investing activities Cash Flows from Financing Activities: | $ |
Net cash provided (used) by financing activities Net increase (decrease) in cash for the year Cash balance, January 1, 2010 Cash balance, December 31, 2010 | $ $ 240 $ 80 |
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