Accounts Receivable, Inventory, and Accounts Payable Increase
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Recently completed 2009 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and income statement follow.
Assets 2009 2008
Cash $ 167,000 $ 138,000
Accounts receivable 82,000 73,000
Merchandise inventory 610,000 510,000
Equipment 335,000 247,000
Accum. Depreciation Equipment (158,000) (101,000)
Total assets $1,036,000 $ 867,000
Liabilities and Equity
Accounts payable $ 148,000 $ 99,000
Income taxes payable 22,000 19,000
Common stock, $2 par value 588,000 560,000
Paid-in capital in excess of par value, common stock 197,000 155,000
Retained earnings 81,000 34,000
Total liabilities and equity $1,036,000 $ 867,000
Income Statement Year end 12/31/2009
Sales $1,799,000
Cost of goods sold 1,088,000
Gross profit 711,000
Operating expenses
Depreciation expense $ 57,000
Other expenses 499,000
556,000
Income before taxes 155,000
Income taxes expense 23,000
Net income $ 132,000
Additional Information on Year 2009 Transactions
a. Purchased equipment for $88,000 cash.
b. Issued 14,000 shares of common stock for $5 cash per share.
c. Declared and paid $85,000 in cash dividends.
I am looking for statement of cash flow for year ending 2009. Specifically in order:
Cash flow from operating activities
I know net income is 132,000
Need to know adjustments to reconcile net income to net cash provided by operations activities:
Accounts Receivable increase?
Inventory increase?
Accounts payable increase?
Taxes payable increase?
Depreciation expense?
Net cash provided by operating activities?
Cash flow from investment activity
Cash paid for equipment?
Cash flow from finance activity
Cash from issuing stock?
Cash paid for dividends?
Net cash used in finance activity?
Net increase in cash?
Cash Balance 12/31/2008?
Cash Balance 12/31/2009?
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