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Belk Corporation's balance sheet appears below:Comparative Balance SheetEnding BalanceBeginning ...

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Belk Corporation's balance sheet appears below:Comparative Balance SheetEnding BalanceBeginning ...

Belk Corporation's balance sheet appears below:

	Ending Balance	Beginning Balance
Comparative Balance Sheet
Assets:
Cash and cash equivalents	$ 27	$ 29
Accounts receivable	30	26
Inventory	65	61
Property, plant, and equipment	500	390
Less accumulated depreciation	178	160
Total assets	$ 444	$ 346
Liabilities and stockholders' equity:
Accounts payable	$ 46	$ 43
Accrued liabilities	23	24
Income taxes payable	46	47
Bonds payable	78	90
Common stock	34	30
Retained earnings	217	112
Total liabilities and stockholders' equity	$ 444	$ 346

The net income for the year was $126. Cash dividends were $21. 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.

Required:

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

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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