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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits > Credits by: Debits by: Cash $ 89,600 Accounts receivable 170,900 Inventory $ 83,900 Prepaid expenses 5,080 Long-term loans to subsidiaries 104,000 Long-term investments 97,000 plant and equipment 311,000 Accumulated depreciation 65,800 Accounts payable 49,400 Accrued liabilities 5,000 Income taxes payable 9,300 Bonds payable 405,000 Common stock 125,000 Retained earnings 76,200 $798,500 $798,500 The following additional information is available about last year's activities: a. Net income for the year was $_? b. The company sold equipment during the year for $35,500. The equipment originally cost $160,900 and it had $127,000 in accumulated depreciation at the time of sale. c Cash dividends of $10,300 were declared and paid during the year d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below: Plant and equipment Accumulated depreciation Beginning Ending $2,888,000 53, 199,000 $984, 180 51,049,900 e. The balance in the Cash account at the beginning of the year was $109,700, the balance at the end of the year was $_? f. If data are not given explaining the change in an account make the most reasonable assumption as to the cause of the change. Required: Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) Yoric Company Statement of Cash Flows Operating activities Net Income Adjustments to convert net income to a cash basis: Depreciation Gain on sale of equipment Increase in accounts payable Increase in accounts receivable Increase in income taxes payable Decrease in prepaid expenses Decrease in inventory Decrease in accrued liabilities

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