Belk Corporation's balance sheet appears below:
Comparative Balance Sheet
As...
Belk Corporation's balance sheet appears below:
Comparative Balance Sheet
Assets Ending Balance Beginning Balance
Cash and cash equivalents $27 $29
Accounts receivable 30 26
Inventory 65 61
Property, plant, and equipment 500 390
Less accumulated depreciation 178 160
Total assets $444 $346
Liabilities and stockholders' equity
Accounts payable $46 $43
Accrued liabilities 23 24
Income taxes payable 46 47
Bonds payable 78 90
Common stock 34 30
Retained earnings 217 112
Total liabilities and stockholders' equity $444 $346
The net income for the year was $126. Cash dividends were $21. 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.
Required:
Prepare a statement of cash flows in good form using the indirect method.
Answers: 2
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