Posted: June 15th, 2022

N.C. State ACC ACC210 Using the indirect method, prepare a statement of cash flows for this year

Required:1.Using the indirect method, prepare a statement of cash flows for this year. (Amounts to be deducted should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places. Omit the “$” sign in your response.)Holly CompanyStatement of Cash FlowsFor This Year Ended December 31 Operating activities: (Click to select)Net incomeNet loss$ Adjustments to convert net income to a cash basis: (Click to select)Decrease in inventoryDecrease in accounts receivableIncrease in plant and equipmentDecrease in common stockDepreciationIncrease in inventoryIncrease in accounts receivableDecrease in plant and equipmentIncrease in accounts payableCash dividendsIncrease in common stockDecrease in accounts payable$ (Click to select)Increase in accounts payableIncrease in plant and equipmentDecrease in inventoryCash dividendsDecrease in plant and equipmentDecrease in common stockIncrease in common stockDepreciationDecrease in accounts payableIncrease in inventoryDecrease in accounts receivableIncrease in accounts receivable (Click to select)Decrease in common stockDecrease in accounts payableIncrease in inventoryDecrease in accounts receivableDecrease in inventoryIncrease in accounts payableIncrease in common stockIncrease in plant and equipmentDepreciationIncrease in accounts receivableDecrease in plant and equipmentCash dividends (Click to select)DepreciationIncrease in plant and equipmentIncrease in accounts receivableCash dividendsDecrease in common stockDecrease in accounts receivableDecrease in accounts payableDecrease in plant and equipmentIncrease in common stockIncrease in accounts payableIncrease in inventoryDecrease in inventory Net cash (Click to select)provided byused in operating activities Investing activities: (Click to select)Decrease in inventoryIncrease in plant and equipmentDepreciationIncrease in common stockDecrease in accounts receivableDecrease in accounts payableIncrease in accounts payableIncrease in accounts receivableDecrease in common stockDecrease in plant and equipmentCash dividendsIncrease in inventory Net cash (Click to select)provided byused in investing activities Financing activities: (Click to select)Increase in inventoryIncrease in common stockIncrease in accounts receivable Decrease in plant and equipmentIncrease in accounts payableCash dividendsIncrease in plant and equipmentDecrease in accounts receivableDecrease in accounts payableDepreciationDecrease in inventoryDecrease in common stock` (Click to select)Decrease in plant and equipmentIncrease in accounts payableIncrease in common stockDecrease in accounts payableDecrease in common stockIncrease in inventoryIncrease in accounts receivable DepreciationDecrease in accounts receivableIncrease in plant and equipmentDecrease in inventoryCash dividends Net cash (Click to select)provided byused in financing activities (Click to select)Net increase in cashNet decrease in cash Cash, December 31 of last year Cash, December 31 of this year$ 2.Compute Holly’s free cash flow for this year. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to 2 decimal places. Omit the “$” sign in your response.) Free cash flow$

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