What did StepCurry, Incorporated report as Net Cash Flow from Operating Activities for Year $2?$

$24.$ What did StepCurry, Incorporated report as Net Cash Flow from Investing Activities for Year $2?$

$25.$ What did StepCurry, Incorporated report as Net Cash Flow from Financing Activities for Year $2?$

Year $1$ Year $2$

Cash $5,0405,460$

Accounts receivable $30,24030,030$

Inventory $47,88054,600$

Total current assets $83,16090,090$

Net fixed assets$*168,840182,910$

Total assets $252,000273,000$

Notes payable $7,5605,460$

Accounts payable $22,68021,840$

Accruals $2,5208,190$

Total current liabilities $32,76035,490$

Long$-$term debt $60,48057,330$

Common stock $52,92062,790$

Capital surplus $12,60016,380$

Retained earnings $93,240101,010$

Total liabilities and equity $252,000273,000$

$546,000$

$10,920$

$20,160$

$24,570$

StepCurry, Incorporated

Balance Sheets for the Years Ending December $31,$

$*$ No long$-$term assets were sold in either Year $1$ or Year $2$

Sales in Year $2$

Net income in Year $2$

Depreciation expense in Year $1$

Depreciation expense in Year $2$

Additional Data from Company I

Answer rating: 100% (QA)

24 The Net Cash Flow from Investing Activities for Year 2 can be calculated by subtracting the chang... View the full answer