The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $115 $37 Accounts receivable (net) 66 47 Inventories 41 26 Land 94 105 Equipment 53 41 Accumulated depreciation-equipment (14) (7) Total Assets $355 $249 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $45 $37 Dividends payable 7 - Common stock, $1 par 23 12 Excess of paid-in capital over par 56 29 Retained earnings 224 171 Total liabilities and stockholders' equity $355 $249 The following additional information is taken from the records: Land was sold for $28. Equipment was acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash. There was a $76 credit to Retained Earnings for net income. There was a $23 debit to Retained Earnings for cash dividends declared.Prepare a statement of cash flows, using the indirect method of presenting Cash flows from (used for) operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $115 $37 Accounts receivable (net) 66 47 Inventories 41...

The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:

	Dec. 31, 20Y2	Dec. 31, 20Y1
Assets
Cash	$115		$37
Accounts receivable (net)	66		47
Inventories	41		26
Land	94		105
Equipment	53		41
Accumulated depreciation-equipment	(14)		(7)
	Total Assets	$355		$249
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$45		$37
Dividends payable	7		-
Common stock, $1 par	23		12
Excess of paid-in capital over par	56		29
Retained earnings	224		171
	Total liabilities and stockholders' equity	$355		$249

The following additional information is taken from the records:

Land was sold for $28.

Equipment was acquired for cash.

There were no disposals of equipment during the year.

The common stock was issued for cash.

There was a $76 credit to Retained Earnings for net income.

There was a $23 debit to Retained Earnings for cash dividends declared.

Prepare a statement of cash flows, using the indirect method of presenting Cash flows from (used for) operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Jun 01, 2022

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The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $115 $37 Accounts receivable (net) 66 47 Inventories 41...

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