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AE13-7 Willingham Corporations comparative balance sheets

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Willingham Corporation's comparative balance sheets are presented below.

Comparative Balance Sheets
December 31


Cash $14,220 $10,610
Accounts receivable 21,060 23,330
Land 20,080 26,180
Building 69,760 69,760
Accumulated depreciation (15,090)

Total $110,030

Accounts payable $12,140 $31,180
Common stock 75,160 68,890
Retained earnings 22,730

Total $110,030

Additional information:

Net income was $22,900. Dividends declared and paid were $19,660.

All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,880.

Prepare a statement of cash flows for 2011 using the indirect method. (List multiple entries with a positive cash flow first and then the negative cash flow. List amounts from largest to smallest eg 10, 5, 3, 2. If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)
Statement of Cash Flows
For the Year Ended December 31, 2011

Cash flows from operating activities
Net income _________
Adjustments to reconcile net income ______
to net cash provided by operating activities
Depreciation expense _______
Decrease in accounts receivable _______
Loss on sale of land __________
Decrease in accounts payable ________

Net cash provided by operating activities

Cash flows from investing activities
Sale of land 4,880

Cash flows from financing activities
Issuance of common stock _____
Payment of dividends _______

Net cash used by financing activities _______

Net increase in cash ____
Cash at beginning of period _____
Cash at end of period _______

Compute free cash flow. (If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)



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Customer: replied 6 years ago.

Not a problem...there was confusion with the numbers you stated. By then I was alread out of the system.


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oh ok, I get it :) That is ok then :)


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Customer: replied 6 years ago.
Perfect...Thanks so much
Anytime :)