Natalie King has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts are in thousands (000s). CPU HARDWARE DESIGNERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash $(34,600) Cash at the beginning of the period 87,000 Cash at the end of the period $52,400 Below, in random order, are line items to be included in the statement of cash flows Cash received from the sale of land (no gain or loss) $3,700 Issuance of common stock 285,000 Depreciation expense 27,000 Increase in accounts receivable 67,000 Increase in accounts payable 11,000 Loss on sale of land 7,700 Purchase of equipment 227,000 Increase in inventory 37,000 Increase in prepaid rent 11,000 Payment of dividends 47,000 Net income 77,000 Repayment of notes payable 57,000 Required: Prepare the statement of cash flows for CPU Hardware Designers using the indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.e., 10,000,000 should be entered as "10,000).)

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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Natalie King has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts are in thousands (000s).

CPU HARDWARE DESIGNERS
Statement of Cash Flows
For the Year Ended December 31, 2024
Cash Flows from Operating Activities
Net income
Adjustments to reconcile net income to net cash flows from operating activities:
Net cash flows from operating activities
Cash Flows from Investing Activities
Net cash flows from investing activities
Cash Flows from Financing Activities
Net cash flows from financing activities
Net increase (decrease) in cash	$(34,600)
Cash at the beginning of the period	87,000
Cash at the end of the period	$52,400

Below, in random order, are line items to be included in the statement of cash flows

Cash received from the sale of land (no gain or loss)	$3,700
Issuance of common stock	285,000
Depreciation expense	27,000
Increase in accounts receivable	67,000
Increase in accounts payable	11,000
Loss on sale of land	7,700
Purchase of equipment	227,000
Increase in inventory	37,000
Increase in prepaid rent	11,000
Payment of dividends	47,000
Net income	77,000
Repayment of notes payable	57,000

Required:

Prepare the statement of cash flows for CPU Hardware Designers using the indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.e., 10,000,000 should be entered as "10,000).)

Net cash flows from investing activities
Cash Flows from Financing Activities:
Net cash flows from financing activities
Cash at the beginning of the period
Cash at the end of the period

Cash Flows from Operating Activities:
CPU HARDWARE DESIGNERS
Statement of Cash Flows
For the Year Ended December 31, 2024
Adjustments to reconcile net income to net cash flows from operating activities:
Net cash flows from operating activities
Cash Flows from Investing Activities:

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