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Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Income Statement Operating activities: Operating activities: The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $14. Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Investing activities: $ 891 557 Thunder Corporation Statement of Cash Flows For This Year Ended December 31 334 173 Financing activities: 161 45 $116 Thunder Corporation Statement of Cash Flows For This Year Ended December 31

Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income Income Statement Operating activities: Operating activities: The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $14. Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Investing activities: $ 891 557 Thunder Corporation Statement of Cash Flows For This Year Ended December 31 334 173 Financing activities: 161 45 $116 Thunder Corporation Statement of Cash Flows For This Year Ended December 31

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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TB Problem Qu. 15-124 (Algo) Thunder Corporation's balance sheet and income statement appear below: Thunder Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Ending Balance $40 72 53 466 206. $ 425 $ 55 202 53 115 $ 425 Beginning Balance $43 77 54 392 172 $394 $57 272 52 13 $394
Transcribed Image Text:TB Problem Qu. 15-124 (Algo) Thunder Corporation's balance sheet and income statement appear below: Thunder Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Ending Balance $40 72 53 466 206. $ 425 $ 55 202 53 115 $ 425 Beginning Balance $43 77 54 392 172 $394 $57 272 52 13 $394
Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income. Income taxes Net income Income Statement The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $14. Operating activities: Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Operating activities: Investing activities: $ 891 557 334 173 161 45 $116 Thunder Corporation Statement of Cash Flows For This Year Ended December 31 Financing activities: Thunder Corporation Statement of Cash Flows For This Year Ended December 31
Transcribed Image Text:Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income. Income taxes Net income Income Statement The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $14. Operating activities: Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Operating activities: Investing activities: $ 891 557 334 173 161 45 $116 Thunder Corporation Statement of Cash Flows For This Year Ended December 31 Financing activities: Thunder Corporation Statement of Cash Flows For This Year Ended December 31
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