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Accounting

Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained earnings Total Vaughn Manufacturing Income Statement Data For the Year Ended December 31, 2017 Sales revenue Less: $524,421
For the Year Ended December 31, 2017 Sales revenue $524,421 Less: Cost of goods sold $182,871 16,754 62,775 36,828 6,386 Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense 10,125 315,739 $ 208,682 Loss on disposal of plant assets Net income Additional information: 1. New plant assets costing $135,000 were purchased for cash during the year 2. Old plant assets having an original cost of $77,625 and accumulated depreciation of $65, 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $35,140 was declared and paid during the year Prepare a statement of cash flows using the indirect method. (Show amounts that decreas Vaughn Manufacturing Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash used by Operating Activities Increase in Inventory Increase in Accounts Receivable Increase in Accounts Receivable Depreciation Expense
Increase in Accounts Receivable Depreciation Expense Loss on Disposal of Plant Assets Increase in Prepaid Expenses Increase in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Investments Purchase of Plant Assets Sale of Plant Assets Net Cash used by Investing Activities Cash Flows from Financing Activities Redemption of Bonds Sale of Common Stock
Kimmel, Financial Accounting, 8e Help I System Announcements Purchase of Investments Purchase of Plant Assets Sale of Plant Assets Net Cash used by Investing Activities Cash Flows from Financing Activities Redemption of Bonds Sale of Common Stock Payment of Cash Dividends Net Cash used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period Click if you would like to Show Work for this question: Open Show Work

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