Boscia Corporation's balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents......................... $ 44 $ 38 Accounts receivable .................................. 82 69 Inventory ................................................... 71 69 Plant and equipment .................................. 537 500 Accumulated depreciation......................... ( 240) ( 201) Total assets................................................ $494 $475 Liabilities and stockholders’ equity: Accounts payable ...................................... $ 70 $ 60 Wages payable........................................... 24 21 Taxes payable ............................................ 19 22 Bonds payable ........................................... 226 300 Deferred taxes............................................ 19 18 Common stock........................................... 22 20 Retained earnings...................................... 114 34 Total liabilities and stockholders’ equity .. $494 $475 The net income for the year was $108. Cash dividends were $28. Required: Prepare a statement of cash flows in good form using the indirect method.
Transcribed Image Text:Boscia Corporation's balance sheet appears below:
Comparative Balance Sheet
Ending Beginning
Balance Balance
Assets:
$ 44
$ 38
Cash and cash equivalents..
Accounts receivable .
Inventory
Plant and equipment .
Accumulated depreciation.
Total assets
82
69
71
69
537
500
(240)
$494
( 201)
$475
Liabilities and stockholders' equity:
Accounts payable
Wages payable..
Taxes payable.
Bonds payable .
Deferred taxes..
$ 70
24
$ 60
21
19
22
226
300
19
18
Common stock...
22
20
Retained earnings.
Total liabilities and stockholders’ equity ..
114
$494
34
$475
The net income for the year was $108. Cash dividends were $28.
Required:
Prepare a statement of cash flows in good form using the indirect method.
Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.
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