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Condensed financial data of LaRussa Inc. follow....

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Condensed financial data of LaRussa Inc. follow. LARUSSA INC. Comparative Balance Sheets December 31 Assets 2011 2010 Cash $ 90,780 $ 48,750 Accounts receivable 92,440 32,940 Inventories 112,600 102,600 Prepaid expenses 28,570 25,600 Investments 137,580 114,030 Plant assets 269,860 242,570 Accumulated depreciation (49,170) (52,320) Total $682,660 $514,170 Liabilities and Stockholders' Equity Accounts payable $111,620 $ 67,710 Accrued expenses payable 16,110 17,440 Bonds payable 115,920 149,750 Common stock 220,430 174,930 Retained earnings 218,580 104,340 Total $682,660 $514,170 LARUSSA INC. Income Statement For the Year Ended December 31, 2011 Sales $392,090 Less: Cost of goods sold $135,930 Operating expenses, excluding depreciation 12,650 Depreciation expense 46,830 Income taxes 27,020 Interest expense 4,780 Loss on sale of plant assets 5,750 232,960 Net income $159,130 Additional information: New plant assets costing $84,790 were purchased for cash during the year. Old plant assets having an original cost of $57,500 were sold for $1,770 cash. Bonds matured and were paid off at face value for cash. A cash dividend of $44,890 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number eg. -45 or parentheses eg (45).) LARUSSA INC. Statement of Cash Flows For the Year Ended December 31, 2011 Cash flows from operating activities $ Adjustments to reconcile net income to net cash provided by operating activities $ Net cash by operating activities Cash flows from investing activities Net cash by investing activities Cash flows from financing activities Net cash by financing activities Net in cash Cash at beginning of period Cash at end of period $

 

Paper#4812 | Written in 18-Jul-2015

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