APPLICATION PROBLEMS eare a Statement of Cash Flows (25 D A comparative balance sheet and income statement for Eaton Company follow: Eaton Company Comparative Balance Sheet December 31, 2011 and 2010 Cash Accounts receivabl. Inventory Prepaid expenses.. Total current assets.. ty, plant, and equipment.500 Less accumulated depreciation. tproperty, plant, and equipment.. Long-term investments Total assets 415 $928 S928 830 Liabilities and Stockholders' Equity Accounts payable... S300 $225 7163 Income taxes payable... 441 636 339 Total liabilities 13292 Retained earnings.. Total stockholders' equity Total liabilities and stockholders' equity S928 830 Eaton Company Income Statement For the Year Ended December 31, 2011 Cost of goods sol.d... Gross margin. Selling and administrative expenses.. Net operating incom. Nonoperating items: Gain on sale of investments.S 5 Loss on sale of equipment.. Income before taxes.. Income taxes. Net income... 657-23-2 0,00 During 2011, Eaton sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $7 when purchased several years ago. A cash dividend was paid during 2011 and the company repurchased $40 of its own stock. Eaton did not retire any bonds during 2011. iatic Required: 1. Using the indirect method, 2. Using the information in (1) above, along with an analysis determine the net cash provided by operating activities for 2011. S. accounts, prepare a statement of cash flows for 2011. &OLUFSEN Course 657- Lesson 2 Insert Page layout Formulas Data Review View ACROBAT Tell me wha Home Cut Copy Format PainterIU A Arial _ _ Merge & Center s-% Numbe Font Clipboard Property, Plant and Equipment Property, Plant and Equipment, beginning balance 420 Correct! 500 Correct! Property, Plant and Equipment, ending balance 2 Debits to Property, Plant and Equipment 3 Credits to Property, Plant and Equipment Retained Earnings Retained Earnings, beginning balance Retained Earnings, ending balance Debits to Retained Earnings Credits to Retained Earnings 45 46 47 48 49 50 51 52 53 EATON COMPANY Statement of Cash Flows For the Year Ended December 31, 2011 56 57 Operating activities 58 Net income 59 Adjustments needed to convert net income to cash basis: 61 62 63 Lesson 23 Problem 1Given Ci Type here to search BANG&OLUFSEN Course 657 Lesson 23 P Insert Page Layout Formulas Data Review View ACROBAT Tell me what y File Home Erwrap Text 10 AA Copy Paste ' Format Painter Number Clipboard Font F42 EATON C Statement of Cash Flows For the Year Ended December 31, 2011 57 Operating activtes 09 Net cash provided by operating actvities 75 Net cash used for investing actvies 81 Net cash used in tnancing actvities Net decrease in cash Cash balance, January 1, 2011 Cash balance, December 31, 2011 Lesson 23 Problem 1 Given O Type here to search