The following information is provided for the Waif Corporation.
Assets
Cash
Accounts receivable
Inventory
Land
Plant and equipment
Less: Accumulated depreciation
Net plant and equipment
Total assets
Liabilities and Equity
Accounts payable
Bonds payable
Common stock
Retained earnings
Balance Sheets
December 31, 20XX
December 31, 20XW
$54,500
$17,400
64,800
52,200
142,200
149,300
60,000
87,000
206,000
158,000
55,000
33,000
151,000
125,000
$472,500
$430,900
$27,000
37,000
118,000
158,000
170,000
130,000
157,500
105,900
$472,500
$430,900
Total liabilities and shareholders' equity
During 20XX, the following occurred:
1. Net income was $91,000.
2. Bonds were retired by issuing new common stock.
3. No equipment was sold.
4. Cash dividends were paid.
a. Prepare a statement of cash flows for the Waif Corporation. (Amounts to be deducted should be indicated with a minus sign. Omit
$ sign in your response.)
