(a) Net income for the year was $30,000.           (b) Dividends of $10,000 were declared and paid.           (c) Krackle's only noncash expense was depreciation which totaled $50,000.     (d) The company purchased plant assets for $70,000.           (e) Notes payable in the amount of $40,000 were issued during the year for cash.                   Krackle Corporation Spreadsheet for Statement of Cash Flows–Indirect Method For Year Ended December 31, Year 2       Analysis of Changes     12/31/Year 1   Debit   Credit

Hi-Tech, Inc., reports net income of $70 million. Included in that number are depreciation expense of $6 million and a loss on the sale of equipment of $2 million. Records reveal increases in accounts receivable, accounts payable, and inventory of $3 million, $4 million, and $5 million, respectively. What are Hi-Tech’s net cash flows from operating activities?

Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:     Ending Balance   Beginning Balance Cash and cash equivalents $ 102,000   $ 122,400 Accounts receivable   81,700     88,000 Inventory   109,700     100,000 Total current assets   293,400     310,400 Property, plant, and equipment   291,000     280,000 Less accumulated depreciation   97,000     70,000 Net property, plant, and equipment   194,000     210,000 Total assets $ 487,400   $ 520,400             Accounts payable $ 64,000   $ 113,700 Income taxes payable   49,700     65,700 Bonds payable   120,000     100,000 Common stock   140,000     120,000 Retained earnings   113,700     121,000 Total liabilities and stockholders’ equity $ 487,400   $ 520,400     During the year, Ravenna paid a $12,000 cash dividend and it sold a piece of equipment for $6,000 that had…

Fitz Company reports the following information. Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets Cash flows from operating activities Selected Year-End Balance Sheet Data $ 373,000 Accounts receivable decrease 49,400 Inventory decrease 8,300 Prepaid expenses increase 6,700 Accounts payable decrease Salaries payable increase Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Changes in current operating assets and liabilities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 60,400 42,500 6,400 8,800 1,700 $

Electronic Wonders reports net Income of $96,200. The accounting records reveal Depreciation Expense of $50,500 as well as Increases in Prepaid Rent, Accounts Payable, and Income Tax Payable of $39,400, $24,200, and $20,100, respectively. Prepare the operating activities section of Electronic Wonders' statement of cash flows using the Indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.) ELECTRONIC WONDERS Statement of Cash Flowes (partial) Cash Flows from Operating Activities Adjustments for noncash effects: Changes in current assets and current liabilities: Net cash flows from operating activites

Wildhorse Company reported a loss of $1586 for the sale of equipment for cash. The equipment had a cost of $39040 and accumulated depreciation of $35990. How much will Wildhorse report in the cash flows from investing activities section of its statement of cash flows?

Net income of Trout Company was $43,000. The accounting records reveal depreciation expense of $78,000 as well as increases in prepaid rent, salaries payable, and income taxes payable of $58,000, $21,000, and $18,000, respectively. Prepare the cash flows from operating activities section of Trout's statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities: Net income Adjustments for noncash effects: Depreciation expense Changes in operating assets and liabilities: Increase in prepaid rent Increase in salaries payable Increase in income taxes payable Net cash inflows from operating activities