Identify any weaknesses revealed by the statement of cash flows of California Oranges,Inc. A1 California Oranges, Inc.

Identify any weaknesses revealed by the statement of cash flows of California Oranges,Inc.

Transcribed Image Text:

A1 California Oranges, Inc. Statement of Cash Flows For the Current Year 2Operating activities: Net income Add (subtract] noncash items: Depreciation S 104,000 4 5 6 32,000 (65,000) Net increase in current assets other than cash Net decrease in current liabilities exclusive of short-term debt (44.000(77000 27,000 Net cash provided by operating activities 11 Investing activities: 12 Sale of property, plant, and equipment 151,000 13 14 Financing activities: Issuance of bonds payable Payment of short-term debt 110,000 186,000) 101,000) (56,000 17 Payment of long-term debt 18 Payment of dividends Net cash used for financing activities (233,000 S (55,000) 20 Increase (decrease) in cash