Identify any weak¬nesses revealed by the statement of cash flows of Sunshine Fruit, Inc. Sunshine Fruit, Inc.
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Sunshine Fruit, Inc. Statement of Cash Flows For the Current Year Operating activities Net income 104,000 Add (subtract) adjustments to reconcile net income to net cash provided by operating activities: Depreciation Net increase in current assets other than cash 32,000 (65,000) Net decrease in current liabilities exclusive of short-term debt Net cash provided by operating activities 27,000 Investing activities: Sale of property, plant, and equipment Net cash provided by investing activities 151,000 151,000 Financing activities: Issuance of bonds payable Payment of short-term debt Payment of long-term debt Payment of dividends S 110,000 (186,000) (101,000) (56,000) 233,000 Net cash used for financing activities Increase (decrease) in cash
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1 Operations provided little cash The company is selling fixed assets to generate cash 2 Sel...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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