The comparative balance sheets for Rothlisberger Company as of December 31 are p
ID: 2399839 • Letter: T
Question
The comparative balance sheets for Rothlisberger Company as of December 31 are presented below.
Accounts Receivable
Additional information:
Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Accounts Receivable
$41,100 $63,400 Inventory $148,900 $145,600 Prepaid Expenses $15,000 $27,600 Land $101,900 $133,300 Buildings $200,200 $200,200 Accumulated Depreciation - Buildings $60,300 $33,600 Equipment $228,500 $155,400 Accumulated Depreciation - Equipment $42,600 $36,300 Total $690,900 $701,600 LIABIITIES AND STOCKHOLDERS EQUITY Accounts Payable $46,000 $39,700 Bonds Payable $260,000 $293,600 Common stock, $1 Par $193,600 $208,300 Retained Earnings $191,300 $208,300 Total $690,900 $701,600Explanation / Answer
Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities: Net income 44000 Adjustments to reconcile net income to Net cash provided by operating activities Depreciation expense 42000 Loss on Sale of Equipment 6900 Decrease in Accounts receivables 22300 Increase in inventory -3300 Increase in accounts payable 6300 Decrease in prepaid expenses 12600 86800 Net cash provided by operating activities 130800 Cash Flows from Investing Activities: Purchase of Equipment -94900 Sale of Equipment 5900 Sale of Land 31400 Net Cash used by Investing Activities -57600 Cash Flows from Financing Activities Payment of Cash Dividends -61000 Net Cash Used by Financing Activities -61000 Net Increase in Cash 12200 Cash at Beginning of Period 46000 Cash at End of Period 58200 Noncash Investing and Financing Activities Redemption of bonds by Issuance of Common Stock 33600