Print Page - Dauber Corporation's comparative balance sheet and income statement for last year appear ...

Dauber Corporation's comparative balance sheet and income statement for last year appear below:

	Ending Balance	Beginning Balance
Comparative Balance Sheet
Cash and cash equivalents	$ 64,000	$ 39,000
Accounts receivable	57,000	44,000
Inventory	58,000	70,000
Prepaid expenses	18,000	10,000
Long-term investments	290,000	230,000
Property, plant, and equipment	520,000	520,000
Less accumulated depreciation	390,000	358,000
Total assets	$ 617,000	$ 555,000
Accounts payable	$ 14,000	$ 38,000
Accrued liabilities	35,000	17,000
Income taxes payable	69,000	40,000
Bonds payable	160,000	180,000
Common stock	140,000	110,000
Retained earnings	199,000	170,000
Total liabilities and stockholders' equity	$ 617,000	$ 555,000

Income Statement
Sales	$ 580,000
Cost of goods sold	250,000
Gross margin	330,000
Selling and administrative expense	210,000
Net operating income	120,000
Income taxes	36,000
Net income	$ 84,000

The company declared and paid a cash dividend of $55,000 during the year. It did not sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock.

Required:

a. Construct in good form the operating activities section of the company's statement of cash flows for the year.

b. Construct in good form the investing activities section of the company's statement of cash flows for the year.

c. Construct in good form the financing activities section of the company's statement of cash flows for the year.

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Other Fields Homework Help Accounting Topic started by: Katie32 on Jul 24, 2023