Problem 14-11 Missing Data; Statement of Cash Flows [LO14-1, LO14-2]

Yoric Company listed the net changes in its balance sheet accounts for the past year as follows:

	Debits > Credits by:		Credits > Debits by:
Cash	$	96,400
Accounts receivable		170,400
Inventory			$	63,800
Prepaid expenses		4,400
Long-term loans to subsidiaries				84,000
Long-term investments		98,000
Plant and equipment		306,000
Accumulated depreciation				65,000
Accounts payable				48,800
Accrued liabilities		5,700
Income taxes payable				9,000
Bonds payable				206,000
Common stock				129,000
Retained earnings				75,300
	$	680,900	$	680,900

The following additional information is available about last years activities:

a.	Net income for the year was $ ? .
b.	The company sold equipment during the year for $35,600. The equipment originally cost $160,900 and it had $126,600 in accumulated depreciation at the time of sale.
c.	Cash dividends of $10,500 were declared and paid during the year.
d.	The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below:

	Beginning	Ending
Plant and equipment	$ 2,889,000	$ 3,195,000
Accumulated depreciation	$ 991,200	$ 1,056,200

e.	The balance in the Cash account at the beginning of the year was $109,400; the balance at the end of the year was $ ? .
f.	If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change.

Required:

Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)

Yoric Company
Statement of Cash Flows
Operating activities:
Adjustments to convert net income to cash basis:
		0
		0
Investing activities:
		0
Financing activities:
		0
		0
Beginning cash and cash equivalents
Ending cash and cash equivalents		$0