Cash Flows from Operating Activities Net Income 16880 Adjustments to reconcile net income to Net Decrease in Cash Loss on Disposal of Plant Assets -58800 Increase in Inventory -9800 Increase in Prepaid Expenses -3500 Increase in Accounts Payable 44000 Decrease in Accounts Payable -700 Loss on Disposal of Plant Assets 7500 Depreciation Expense 34900 Cash Flows from Operating Activities 182400 Cash Flows from Investing Activities Purchase of Investments -26100 Purchase of Plant Assets -80600 Sale of Plant Assets 2600 | Cash Flows from Investing Activities -104100 Cash Flows from Financing Activities Issuance of Common Stock 43900 Redemption of Bonds -32400 Payment of Cash Dividends -30000 Net Cash Provided by Financing Activities : -18500 Cash at Beginning of Period 59800 Cash at End of Period 47800 Cash at End of Period 107600
Cash Flows from Operating Activities Net Income 16880 Adjustments to reconcile net income to Net Decrease in Cash Loss on Disposal of Plant Assets -58800 Increase in Inventory -9800 Increase in Prepaid Expenses -3500 Increase in Accounts Payable 44000 Decrease in Accounts Payable -700 Loss on Disposal of Plant Assets 7500 Depreciation Expense 34900 Cash Flows from Operating Activities 182400 Cash Flows from Investing Activities Purchase of Investments -26100 Purchase of Plant Assets -80600 Sale of Plant Assets 2600 | Cash Flows from Investing Activities -104100 Cash Flows from Financing Activities Issuance of Common Stock 43900 Redemption of Bonds -32400 Payment of Cash Dividends -30000 Net Cash Provided by Financing Activities : -18500 Cash at Beginning of Period 59800 Cash at End of Period 47800 Cash at End of Period 107600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please answer competely and properly

Transcribed Image Text:Condensed financial data of Concord Inc. follow.
CONCORD INC.
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 107,600
$ 47,800
Accounts receivable
91,900
33,100
Inventory
111,900
102,100
Prepaid expenses
29,400
25,900
Long-term investments
139,800
113,700
Plant assets
274,100
241,800
Accumulated depreciation
( 47,700)
( 51,000)
Total
$ 707,000
$ 513,400
Liabilities and Stockholders' Equity
Accounts payable
$ 111,400
$ 67,400
Accrued expenses payable
16,500
17,200
Bonds payable
117,100
149,500
Common stock
219,000
175,100
Retained earnings
243,000
104,200
Total
$ 707,000
$ 513,400

Transcribed Image Text:Cash Flows from Operating Activities
Net Income
16880
Adjustments to reconcile net income to
Net Decrease in Cash
Loss on Disposal of Plant Assets
-58800
Increase in Inventory
-9800
Increase in Prepaid Expenses
-3500
Increase in Accounts Payable
44000
Decrease in Accounts Payable
-700
Loss on Disposal of Plant Assets
7500
Depreciation Expense
34900
Cash Flows from Operating Activities
182400
Cash Flows from Investing Activities
Purchase of Investments
-26100
Purchase of Plant Assets
-80600
Sale of Plant Assets
2600
Cash Flows from Investing Activities
-104100
Cash Flows from Financing Activities
Issuance of Common Stock
43900
Redemption of Bonds
-32400
Payment of Cash Dividends
-30000
Net Cash Provided by Financing Activities
-18500
Cash at Beginning of Period
59800
Cash at End of Period
47800
Cash at End of Period
107600
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