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

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

Transcribed Image Text:

Florida Oranges, Inc. Statement of Cash Flows For the Current Year Operating activities: Net income Add (subtract) noncash items $95,000 $ 32,000 Depreciation Net increase in current assets other than cash (65,000) Net decrease in current liabilities exclusive of short-term debt (44,000) (77,000) 18,000 Net cash provided by operating activities Investing activities: Sale of property, plant, and equipment 151,000 Financing activities Issuance of bonds payable Payment of short-term debt Payment of long-term debt Payment of dividends $110,000 (186,000) (101,000) (56,000) Net cash used for financing activities Increase (decrease) in cash $ (64,000)