The following information is available for Whispering Winds Corp. for the year ended December 31, 2022. Beginning cash balance $ 16,800 Accounts payable increase 3,990 Depreciation expense 28,700 Accounts receivable decrease 3,360 Inventory decrease 2,170 Net income 40,040 Cash received for sale of land at book value 72,800 Cash dividends paid 26,600 Income taxes payable decrease 2,730 Cash used to purchase land 56,700 Cash used to redeem bonds 46,200 Cash received from issuing stock 112,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
The following information is available for Whispering Winds Corp. for the year ended December 31, 2022. Beginning cash balance $ 16,800 Accounts payable increase 3,990 Depreciation expense 28,700 Accounts receivable decrease 3,360 Inventory decrease 2,170 Net income 40,040 Cash received for sale of land at book value 72,800 Cash dividends paid 26,600 Income taxes payable decrease 2,730 Cash used to purchase land 56,700 Cash used to redeem bonds 46,200 Cash received from issuing stock 112,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available for Whispering Winds Corp. for the year ended December 31, 2022.
| Beginning cash balance | $ 16,800 | |
| Accounts payable increase | 3,990 | |
| 28,700 | ||
| 3,360 | ||
| Inventory decrease | 2,170 | |
| Net income | 40,040 | |
| Cash received for sale of land at book value | 72,800 | |
| Cash dividends paid | 26,600 | |
| Income taxes payable decrease | 2,730 | |
| Cash used to purchase land | 56,700 | |
| Cash used to redeem bonds | 46,200 | |
| Cash received from issuing stock | 112,000 |
Prepare a statement of
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