175.The following information is available for the Brookstone Company:
Brookstone Company
Balance Sheets
At December 31
20152014
Assets:
Cash$29,568$27,648
Accounts receivable38,61635,280
Merchandise inventory87,75074,052
Long-term investments67,08067,680
Machinery210,600174,600
Accumulated depreciation (40,260) (37,440)
Total assets$393,354$341,820
Liabilities:
Accounts payable$78,000$48,456
Income taxes payable12,87012,240
Bonds payable 58,500 79,200
Total liabilities$149,370$139,896
Equity:
Common stock140,400115,200
Paid-in capital in excess of par15,60010,800
Retained earnings 87,984 75,924
Total equity$243,984$201,924
Total liabilities and equity$393,354$341,820
Brookstone Company
Income Statement
For Year Ended December 31, 2015
Sales $288,000
Cost of goods sold$97,080
Depreciation expense35,280
Other operating expenses57,600
Interest expense 2,400(192,360)
Other gains (losses):
Loss on sale of equipment (10,080)
Income before taxes 85,560
Income taxes expense 33,180
Net income $52,380
Additional information:
(1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired.
(2) Old machinery with an original cost of $45,060 was sold for $2,520 cash.
(3) New machinery was purchased for $81,060 cash.
(4) Cash dividends of $40,320 were paid.
(5) Additional shares of stock were issued for cash.
Prepare a complete statement of cash flows for calendar-year 2013 using the indirect method.
176.Use the following company information to calculate net cash provided or used by investing activities:
(a) Equipment with a book value of $175,000 and an original cost of $300,000 was sold at a loss of $17,000.
(b) Paid $62,000 cash for a new truck.
(c) Sold land costing $32,000 for $36,000 cash, realizing a $4,000 gain.
(d) Purchased treasury stock for $61,000 cash.
(e) Long-term investments in stock are sold for $41,000 cash, realizing a gain of $3,500.
177.Use the following information to calculate the net cash provided or used by financing activities for the Streams Corporation:
(a) Net income, $10,000
(b) Sold common stock for $40,000 cash
(c) Paid cash dividend of $13,000
(d) Paid bond payable, $28,000
(e) Purchased equipment for $12,000 cash