Arma

Comparative Balance Sheets December 31 Assets 2010 2009 immediate payment $80,800 $ 48,400 Accounts receivable 87,800 33,000 Inventories 112,500 102,850 prepay expenses 28,400 26,000 Investments 138,000 114,000 Plant assets 285,000 242,500 Accumulated depreciation (50,000) (52,000) Total $682,500 $514,750 Liabilities and Stockholders uprightness Accounts payable $102,000 $ 67,300 accrue expenses payable 16,500 17,000 Bonds payable 110,000 150,000 Common inventorying 220,000 175,000 Retained compensation 234,000 105,450 Total $682,500 $514,750 Income affirmation Data For the family Ended December 31, 2010 gross revenue $392,780 Less: be of goods exchange $135,460 Operating expenses, excluding depreciation 12,410 depreciation expense 46,500 Income taxes 27,280 raise expense 4,730 Loss on cut-rate sale of imbed assets 7,500 233,880 Net income $158,900 Additional information: 1. New position assets case $100,000 were purchased for capital during the year. 2. Old plant assets having an original cost of $57,500 were sold for $1,500 coin. 3. Bonds matured and were paid off at caseful look upon for funds. 4. A change dividend of $30,350 was declared and paid during the year. launch a statement of cash flows using the direct method. ARMA INC.

Statement of Cash Flows For the Year Ended December 31, 2007 Cash flows from operating(a) activities Cash communicate from customers$332,980(1) Less cash payments: To suppliers$100,410(2) For operating expenses??15,310(3) For income taxes??27,280 For delight???4,730?147,730 Net cash pr ovided by operating ??activities?185,250 ! Cash flows from investing activities sale of plant assets?? 1,500 Purchase of plant assets (85,000) Purchase of investments? (24,000) Net cash utilize by investing ??activities(107,500) Cash flows from financing activities Sale of commonality stock??45,000 Payment of cash dividends? (40,350) Redemption of bonds? (40,000) Net cash used by...If you want to get a full essay, typeset it on our website: OrderCustomPaper.com

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