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(solution) The comparative balance sheet of Mavenir Technologies Inc. for


The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2014 and 2013, is shown as follows:

  Dec. 31, 2014 Dec. 31, 2013
Assets    
Cash $245,960   $227,750  
Accounts receivable (net) 89,100   81,800  
Inventories 251,540   242,170  
Investments 0   93,830  
Land 129,010   0  
Equipment 277,520   214,120  
Accumulated depreciation-equipment (64,970)   (57,740)  
  Total $928,160   $801,930  
     
Liabilities and Stockholders' Equity    
Accounts payable (merchandise creditors) $168,000   $157,980  
Accrued expenses payable (operating expenses) 16,710   20,850  
Dividends payable 9,280   7,220  
Common stock, $10 par 50,120   39,290  
Paid-in capital in excess of par-common stock 188,420   109,060  
Retained earnings 495,630   467,530  
  Total $928,160   $801,930  

The following additional information was taken from the records:

  1. The investments were sold for $109,780 cash.
  2. Equipment and land were acquired for cash.
  3. There were no disposals of equipment during the year.
  4. The common stock was issued for cash.
  5. There was a $65,790 credit to Retained Earnings for net income.
  6. There was a $37,690 debit to Retained Earnings for cash dividends declared.

Required:



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Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required.


Net Income

 

add Depreciation

 

less Gain on sale of investment

 

less Increase in AR

 

less Increase in Inventory

 

add Increase in AP

 

less Decrease in accrued expenses

 

Net Cash flow from operating...

 


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