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Carr Corporation's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Less accumulated depreciation Total assets Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Ending Balance $3,270 86,300 42,900 9,360 261,600 530,450 326,400 $607,480 $ 9,900 26,160 52,900 169,600 151,000 197,920 $ 607,480 $ 935,000 463,500 471,500 278,100 193,400 41,000 $ 152,400 Beginning Balance $24,840 77,390 49,350 15,900 214,000 513,600 309,750 $ 585,330 $ 26,000 17,510 47,840 210,000 140,000 143,980 $ 585,330 The company declared and paid $98,460 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.)

Carr Corporation's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Less accumulated depreciation Total assets Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Ending Balance $3,270 86,300 42,900 9,360 261,600 530,450 326,400 $607,480 $ 9,900 26,160 52,900 169,600 151,000 197,920 $ 607,480 $ 935,000 463,500 471,500 278,100 193,400 41,000 $ 152,400 Beginning Balance $24,840 77,390 49,350 15,900 214,000 513,600 309,750 $ 585,330 $ 26,000 17,510 47,840 210,000 140,000 143,980 $ 585,330 The company declared and paid $98,460 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.)

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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Carr Corporation's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Less accumulated depreciation Total assets Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Ending Balance $ 3,270 86,300 42,900 9,360 261,600 530,450 326,400 $ 607,480 $ 9,900 26,160 52,900 169,600 151,000 197,920 $ 607,480 $ 935,000 463,500 471,500 278,100 193,400 41,000 $ 152,400 Beginning Balance $ 24,840 77,390 49,350 15,900 214,000 513,600 309, 750 $ 585,330 $ 26,000 17,510 47,840 210,000 140,000 143,980 $ 585,330 The company declared and paid $98,460 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.)
Transcribed Image Text:Carr Corporation's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Less accumulated depreciation Total assets Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Ending Balance $ 3,270 86,300 42,900 9,360 261,600 530,450 326,400 $ 607,480 $ 9,900 26,160 52,900 169,600 151,000 197,920 $ 607,480 $ 935,000 463,500 471,500 278,100 193,400 41,000 $ 152,400 Beginning Balance $ 24,840 77,390 49,350 15,900 214,000 513,600 309, 750 $ 585,330 $ 26,000 17,510 47,840 210,000 140,000 143,980 $ 585,330 The company declared and paid $98,460 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.)
Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.) Adjustments to a cash basis: Adjustments to a cash basis: Adjustments to a cash basis: Adjustments to a cash basis:
Transcribed Image Text:Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.) Adjustments to a cash basis: Adjustments to a cash basis: Adjustments to a cash basis: Adjustments to a cash basis:
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