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12. What is the amount of gross cash outflows reported in the investing section of the company's statement of cash flows? 13. What is the company's net cash provided by (used in) investing activities? 14. What is the amount of gross cash inflows reported in the financing section of the company's statement of cash flows? 15. What is the company's net cash provided by (used in) financing activities?

12. What is the amount of gross cash outflows reported in the investing section of the company's statement of cash flows? 13. What is the company's net cash provided by (used in) investing activities? 14. What is the amount of gross cash inflows reported in the financing section of the company's statement of cash flows? 15. What is the company's net cash provided by (used in) financing activities?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Balance Beginning Balance $ 126,600 $ 152,250 107,800 122,500 Cash & cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation 100,000 134,300 360,900 354,000 118,000 236,000 Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 139,200 Total liabilities and stockholders' equity $596,900 $ 639,800 During the year, Ravenna paid a $14,700 cash dividend and it sold a piece of equipment for $7,350 that had originally cost $17,400 and had accumulated depreciation of $11,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 382,550 343,000 85,750 $ 596,900 $ 78,400 60,800 147,000 171,500 257,250 $ 639,800 $ 139,200 83,100 122,500 147,000 148,000 12. What is the amount of gross cash outflows reported in the investing section of the company's statement of cash flows? 13. What is the company's net cash provided by (used in) investing activities? 14. What is the amount of gross cash inflows reported in the financing section of the company's statement of cash flows? 15. What is the company's net cash provided by (used in) financing activities?
Transcribed Image Text:Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Balance Beginning Balance $ 126,600 $ 152,250 107,800 122,500 Cash & cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation 100,000 134,300 360,900 354,000 118,000 236,000 Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 139,200 Total liabilities and stockholders' equity $596,900 $ 639,800 During the year, Ravenna paid a $14,700 cash dividend and it sold a piece of equipment for $7,350 that had originally cost $17,400 and had accumulated depreciation of $11,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 382,550 343,000 85,750 $ 596,900 $ 78,400 60,800 147,000 171,500 257,250 $ 639,800 $ 139,200 83,100 122,500 147,000 148,000 12. What is the amount of gross cash outflows reported in the investing section of the company's statement of cash flows? 13. What is the company's net cash provided by (used in) investing activities? 14. What is the amount of gross cash inflows reported in the financing section of the company's statement of cash flows? 15. What is the company's net cash provided by (used in) financing activities?
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