# The balance sheets for a company, along with additional information, are provided below: Balance Sheets December...

The balance sheets for a company, along with additional information, are provided below: Balance Sheets December 31, Year 2 and Year 1. Year 2 Year 1  156,250 74,000 85,000 2,000 171,500 87,000 71,000 1,000 430,000 720,000 (400, 000) $1,067, 250 430,000 620,000 (248,000)$1, 132, 500 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity  89,000 6, 750 6,000 76,000 13,500 4,000 112,500 225,000 650,000 203, 000 $1,067,250 650, 000 164, 000$1, 132, 500 Additional Information for Year 2: 1. Net income is $59,000. 2. The company purchases$100,000 in equipment. 3. Depreciation expense is $152,000. 4. The company repays$112,500 in notes payable. 5. The company declares and pays a cash dividend of $20,000. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) Statement of Cash Flows For the Year Ended December 31, Year 2 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period ## Answers #### Similar Solved Questions 1 answer ##### The process of projecting the present and future availability of qualified personnel in sufficient number is... 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##### Find the limit: (If an answer does not exist, enter DNE:) lim [1/07 + x)] - (1/7) X-0Need Help?Rend ItHte[kitend IuterSubmit AnswerPractice Another Version[0/1 Points]DETAILSPREVIOUS ANSWERS
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