Following is a statement of cash flows (indirect method) for Hartford, Inc., for
ID: 2418370 • Letter: F
Question
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2014. Also shown is a partially completed comparative balance sheet as of December 31, 2014 and 2013:
Complete the December 31, 2014 and 2013, balance sheets.
I have found the other ones ok, I just don't know how to find the remaining values. Would love assistance along with explanations. Thanks.
Edit: I got Retained Earnings for 2013: 79800 and Total Stockholder's Equity for 2013= 121800. 2013 is complete, now I just need help completing 2014
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2014. Also shown is a partially completed comparative balance sheet as of December 31, 2014 and 2013:
HARTFORD, INC Statement of Cash Flows For the year Ended December 31, 2014 Cash Flows from Operating Activities Net income $ 12,600 Add (deduct) items not affecting cash Depreciation expense Decrease in accounts receivable Increase in Inventory Decrease in accounts payable Proceeds from short-term debt Increase in notes payable 63,000 32,200 (9,800) (8,400) 7,000 16,800 Ne t cash provided by operating activities $113,400 Cash Flows from Investing Activities Purchase of equipment Purchase of buildin $ (70,000) (67,200) gs Net cash used by investing activities $(137,200) Cash Flows from Financing Activities Cash used for retirement of long-term debt Proceeds from issuance of common stock $ (35,000) 14,000 (4,200) Payment of cash dividends on common stock Net cash used by financing activities $ (25,200) Net decrease in cash for the vear $ (49,000)Explanation / Answer
2013
Total Stockholders Equity = Total liabilities & Stockholders Equity - Total liabilities
Total Stockholders Equity = 404600-(154000+ 128800)
Total Stockholders Equity = 121800
Retained Earning = Total Stockholders Equity - Common Stock
Retained Earning = 121800 - 42000
Retained Earning = 79800
2014
Accumulated Depreciation = Accumulated Depreciation in 2013 + Depreciation Expenses
Accumulated Depreciation = 172200+63000
Accumulated Depreciation = 235200
Total Land, Building & Equipment = Land + building - Accumulated Depreciation
Total Land, Building & Equipment = 56000+364000-235200
Total Land, Building & Equipment = 184800
Total Assets = Total Current Assets + Total Land, Building & Equipment
Total Assets = 222600+184800
Total Assets = 407400
Total liabilities & Stockholders Equity = Total Assets
Total liabilities & Stockholders Equity = 407400
Total Stockholders Equity = Total liabilities & Stockholders Equity - Total liabilities
Total Stockholders Equity = 407400-(144200+119000)
Total Stockholders Equity = 144200
Retained Earning = Total Stockholders Equity - Common Stock
Retained Earning = 144200 - 56000
Retained Earning = 88200