Burns Corporation's net income last year was $88,000. Changes in the company's balance sheet accounts...
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Burns Corporation's net income last year was $88,000. Changes in the company's balance sheet accounts for the year appear below Aset andCoAset AccountsDeceames) 33,000 26.000 (33,000) 8.500 44.000 74.000 50.000 Property plant and equipment Liability and Equity Accourts 23.000 53,000 164,000) 51.000 72.500 The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $15,500 Required: Prepare the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.) (Amounts to be deducted should be indicated with a minus sign.) b Prepare the investing activities section of the company's statement of cash flows for the year. (Amounts to be deducted should be indicated with a minus sign.)
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