Burns Corporation's net income last year was $94,600. Changes in the company's balance sheet accounts...
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Burns Corporation's net income last year was $94,600. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents $ 17,000 Accounts receivable $ 13,300 Inventory $ (16,600) Prepaid expenses $ 4,300 Long-term investments $ 10,300 Property, plant, and equipment $ 73,500 Accumulated depreciation $ 31,600 Liability and Equity Accounts: Accounts payable $ (18,400) Accrued liabilities $ 17,100 Income taxes payable $ 4,200 Bonds payable $ (64,200) Common shares $ 41,200 Retained earnings $ 90,300 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 shares during the year. The company declared and paid a cash dividend of $4,300. Required: a. Prepare the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.) b. Prepare the investing activities section of the company's statement of cash flows for the year. c. Prepare the financing activities section of the company's statement of cash flows for the year
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