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The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset...

Question:

The following changes took place last year in Pavolik Companys balance sheet accounts: Asset and Contra-Asset Accounts CashRequired 1 Required 2 Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as n 360

The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation $ 30 D $ 34 I $ 78 D $ 29 1 $ 31 D $ 545 I $ 112 I Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings D = Decrease; 1 = Increase. Long-term investments that cost the company $31 were sold during the year for $66 and land that cost $65 was sold for $34. In addition, the company declared and paid $28 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: $1,320 586 734 520 214 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income $ (31) 35 218 78 140 $ The company's beginning cash balance was $148 and its ending balance was $118.
Required 1 Required 2 Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as n 360 Pavolik Company Statement of Cash Flows Operating activities: Net cash provided by operating activities Investing activities: Proceeds from sale of long-term investments [ $ Proceeds from sale of land Additions to property, plant & equipment 66 34 100 Net cash used in investing activities Financing activities: Cash dividends paid Issuance of bonds payable Purchase of common stock (28) (28) 432 Net cash provided by financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents Ending cash and cash equivalents $ 432

Answers

Pavolik Company
Statement of Cash Flows
Operating activities:
Net cash provided by operating activities $360
Investing activities:
Proceeds from sale of long-term investments $66
Proceeds from sale of land $34
Additions to property, plant & equipment ($610)
Net cash used in investing activities ($510)
Financing activities:
Issuance of bonds payable $212
Purchase of common stock ($120)
Cash dividends $28
Net cash provided by financing activities $120
Net decrease in cash and cash equivalents ($30)
Beginning cash and cash equivalents $148
Ending cash and cash equivalents $118
Note: Issuance of bonds payable and Purchase of common stock are not visible
but I put some figure, kindly put correct figure you will get the correct cash flow
.

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