Print Page - Beltram Corporation's balance sheet and income statement appear below:Comparative Balance ...

Beltram Corporation's balance sheet and income statement appear below:

	Ending Balance	Beginning Balance
Comparative Balance Sheet
Assets:
Cash and cash equivalents	$ 30	$ 26
Accounts receivable	37	43
Inventory	67	63
Property, plant, and equipment	601	560
Less accumulated depreciation	377	360
Total assets	$ 358	$ 332
Liabilities and stockholders' equity:
Accounts payable	$ 42	$ 46
Accrued liabilities	23	22
Income taxes payable	39	39
Bonds payable	141	170
Common stock	63	60
Retained earnings	50	(5)
Total liabilities and stockholders' equity	$ 358	$ 332

Income Statement
Sales	$ 710
Cost of goods sold	437
Gross margin	273
Selling and administrative expense	176
Net operating income	97
Income taxes	29
Net income	$ 68

The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $13.

Required:

Prepare a statement of cash flows in good form using the indirect method.

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Other Fields Homework Help Accounting Topic started by: conrad136 on Jul 24, 2023