Partially Completed Spreadsheet

The following partially completed spreadsheet has been prepared for Perrin Company's 2016 statement of cash flows:

	Balances		Change	Worksheet Entries
Account Titles	12/31/15	12/31/16	Increase (Decrease)	Debit	Credit
Debits
Cash	800	1,540
Noncash Accounts:
Accounts Receivable	1,500	2,180
Inventory	3,100	6,055
Investments in Stock		2,800
Land	6,000	9,200
Buildings	20,000	20,000
Office Equipment	4,000	6,100
Delivery Equipment	3,000	5,900
Treasury Stock		2,000
Totals	38,400	55,775	?
Credits
Accumulated Depreciation	7,000	8,500
Accounts Payable	3,300	3,695
Wages Payable	600	500
Bonds Payable		5,000
Premium on Bonds Payable		240
Common Stock, $10 par	6,000	8,200
Additional Paid-in Capital	9,000	13,640
Retained Earnings	?	?	3,500
Totals	38,400	55,775	?

Additional relevant information:

Beginning retained earnings		$12,500
Plus: Net income		8,000
		$20,500
Less: Stock dividends	$ 840
Cash dividends	3,660	(4,500)
Ending retained earnings		$16,000

Accumulated depreciation is a contra account for all the depreciable assets. Depreciation on these assets totaled $2,200 for the year.

On January 1, 2016, the company issued 10% bonds with a face value of $5,000 at 106. Interest was paid semiannually on June 30 and December 31. The bonds mature on January 1, 2021. Straight-line amortization is used for bond discount or premium. Bond interest expense was $440.

Land was purchased for $3,200 during the year.

Two hundred shares of common stock were issued for delivery equipment valued at $2,900 and office equipment valued at $3,100.

Twenty shares of stock were issued as a stock dividend. The market price per share was $42.

Office equipment with a cost of $1,000 and a book value of $300 was sold for $50.

Fifty shares of its own common stock were reacquired by the company as treasury stock. The company purchased the shares for $40 per share.

One hundred shares of Doe Company stock were purchased for $28 per share at year-end.

Required:

Complete the spreadsheet. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

PERRIN COMPANY Cash Flows Worksheet For Year Ended December 31, 2016
	Balances			Worksheet Entries
Account Titles	12/31/2015	12/31/2016	Change	Debit	Credit
Debits
Cash	800	1,540
Noncash Accounts:
Accounts Receivable	1,500	2,180
Inventory	3,100	6,055
Investments in Stock		2,800
Land	6,000	9,200
Buildings	20,000	20,000
Office Equipment	4,000	6,100
Delivery Equipment	3,000	5,900
Treasury Stock		2,000
Totals	38,400	55,775
Credits
Accumulated Depreciation	7,000	8,500
Accounts Payable	3,300	3,695
Wages Payable	600	500
Bonds Payable		5,000
Premium on Bonds Payable		240
Common stock, $10 par	6,000	8,200
Additional Paid-in Capital	9,000	13,640
Retained Earnings			3,500
Totals	38,400	55,775

	Worksheet Entries
	Debit	Credit
Cash Flows from Operating Activities:
Net income
Less: Loss from sale of equipment
Cash Flows from Investing Activities:
Payment for purchase of land
Payment for purchase of equipment
Payment for purchase of supplies
Cash Flows from Financing Activities:
Proceeds from issuance of bonds payable
Payment for acquisition of treasury stock
Payment of dividends
Investing and Financing Activities Not Affecting Cash:
Issuance of common stock for equipment
Acquisition of equipment by issuance of common stock
Net increase in cash
Totals