Problem 12-7A Presented below are the financial statements of Oriole Company. Or

Question

Problem 12-7A Presented below are the financial statements of Oriole Company. Oriole Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 2016 $ 81,200 46,400 64,960 139,200 $ 46,400 32,480 46,400 180,960 (74,240)(55,680 ) $257,520 $250,560 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 44,080 16,240 39,440 41,760 116,000 $257,520 $ 34,800 18,560 76,560 32,480 88,160 $250,560

Explanation / Answer

Statement of cash flow cash from operating activities net income for the year 74,240 adjustments to reconcile net income Depreciation expense 40,600 increase in accounts receivable -13920 increase in inventory -18560 increase in accounts payable 9280 Decrease in income taxes payable -2320 15,080 Net cash flow from operating activities 89,320 Cash flow from investing activities cash from sale of Equipment 19,720 Cash flow from investing activities 19,720 Cash flow from financing activity cash dividend -46,400 Redemption of bonds -37120 Cash from common stock issue 9280 cash used by financing activities -74,240 -74,240 Net increase in cash 34,800 Cash at the beginning 46,400 Cash at year end 81,200 Free cash flow = cash from operating activities- capital expendityre 89,320

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