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1. The following information is available for Chenard Corporation for the year ended December 31, 2017. Beginning cash balance Accounts payable decrease o Depreciation expense o Accounts receivable increase Anventory increase Net income Cash received for sale of land at book value Sales revenue Cash dividends paid F J Income tax payable increase o Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds 35,000 3,200 76,000 8,200 13,000 269,100 35,000 747,000 12,000 4,700 144,000 32,000 206,000 Instructions Prepare a statement of cash flows using the indirect method. (15 points) Chenard Corpor、im for the rea/ended Dec .31,20门 Casth Flas Som 269,1oo Adjustments %,ooo 4,700 13,000) ,00 시RTvertete AlP Deurense (3,JOD) Met Cash Ro-ded.hl.oes-t ㄅ 56, 30 335,400
Expert Answer
| Cash flow from operating activities | ||
| Net income | 269100 | |
| Adjustments to reconcile the net income | ||
| Depreciation expense | 76000 | |
| Increase in Accounts receivable | -8200 | |
| Increase in inventory | -13000 | |
| Decrease in accounts payable | -3200 | |
| Increase in income tax payable | 4700 | |
| 56300 | ||
| Cash flow from operating activities | 325400 | |
| Cash flow from Investing activities | ||
| Sale of land | 35000 | |
| Purchase of building | -144000 | |
| Cash flow from Investing activities | -109000 |
| Cash flow from Financing activities | |||
| Common stock | -32000 | ||
| Issue of bonds | 206000 | ||
| cash Dividend | -12000 | ||
| Cash flow from Financing activities | 162000 | ||
| Net Cash and cash equivalent | 378400 | ||
| Add | Beginning cash and cash equivalent | 35000 | |
| Ending cash and cash equivalent | 413400 | ||
