The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is
ID: 2398558 • Letter: T
Question
The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is as follows: Question not attempted Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash 4 Accounts receivable (net) 5 Inventories 6 Investments 7 Land 8 Equipment 9 Accumulated depreciation-equipment 10 Total assets 11 Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) 13 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 417.500.00 17 Retained earmings 18 Total liabilities and stockholders' equity $625,080.00 $586,430.00 228,260.00 209,470.00 641,070.00 616,400.00 0.00 327,640.00 0.00 705,000.00 552,830.00 (165,670.00) (148,610.00) $2,361,380.00 $2,056,690.00 240,170.00 $425,090.00 $405,900.00 43,140.00 52,460.00 23,780.0019,970.00 150,000.00 100,000.00 280.000.00 1,301,870.00 1,198,360.00 $2 361,380.00 $2,056,690 00 The income statement for the year ended December 31, 20Y3, is as follows
Explanation / Answer
Cash flow statement: Cash flow from the Operating Activities: Amount $ Net Income 198550 add: depreciation 17060 less: gain on sale of investments -39980 less: increase in AR 228260-209470 -18790 less: increase in invent 641070-616400 -24670 add:increase in AP 425090-405900 19190 less: decrease in Accrued exp pay 43140-52460 -9320 add:increase in Divi Pay 23780-19970 3810 Cash inflow from operating activities 145850 Cash flow from the Investing activities: Add sale of investments 280150 Less: purchase of land -327640 Less: purchase of equipment 705000-552830 -152170 Cash outflow from Investing activities -199660 Cash flow from the Financing activities: Add: issue of CS 50000+137500 187500 Less: dividend issued -95040 Cash inflow from the financing activities 92460 Net cash inflow from all activities 38650 Add: Opening Cash 586430 Closing Cash 625080