The following changes took place last year in Pavolik Company’s

The following changes took place last year in Pavolik Company€™s balance sheet accounts:

The following changes took place last year in Pavolik Company€™s

Long-term investments that had cost the company $ 6 were sold during the year for $ 16 and land that had cost $ 15 was sold for $ 9. In addition, the company declared and paid $ 30 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock.
The company€™s income statement for the year follows:

The following changes took place last year in Pavolik Company€™s

The company€™s beginning cash balance was $ 90 and its ending balance was $ 85.

Required:
1. Use the indirect method to determine the net cash provided by operating activities for the year.
2. Prepare a statement of cash flows for theyear.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...