Burns Corporation's net income last year was $96,500. Changes in the company's balance...
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Burns Corporation's net income last year was $96,500. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation 25,100 13,500 (17,600) $ 4,100 10,600 $ 71,400 34,100 Liability and Equity Accourn Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings $ (19,400) 16,300 $ 4,300 (62,400) 42,000 $92,200 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 $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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