comparative balance sheet of Livers Inc for December 31 20Y3

comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash 625.,650.00 $586.340.00 208,030.00 Accounts receivable (net) 5 Inventornes 6 Investments 7 Land 8 Equipment 228,170.00 64148000 617,130.00 240,290.00 0.00 552.300.00 (165.580.00) (147,010.00) 2363,960.00 $2.057.080.00 0.00 328,170.00 706,070.00 10 Total assets Liabilities and Stootholders\' Equity

Solution

Apparel Company

Statement of Cash Flows

For the year ended Dec 31, 20Y3 (Amounts in $)

Cash Flows from Operating Activities
Net Income		199,210
Adjustments to reconcile net inome to cash flows from operating activities
Add: Depreciation Expenses ($165,580-$147,010)	18,570
Less: Gain on sale of investments ($280,680-$240,290)	(40,390)
Changes in Current Assets and Current Liabilities
Less: Increase in Accounts Receivable ($228,170-$208,030)	(20,140)
Less: Increase in Inventory ($641,480-$617,130)	(24,350)
Add: Increase in Accounts Payable ($424,300-$404,860)	19,440
Less: Decrease in Accrued Expenses Payable ($52,880-$41,850)	(11,030)	(57,900)
Net cash provided by operating activities (A)		141,310
Cash Flows from Investing Activities
Sale of Investments	280,680
Purchase of Land	(328,170)
Purchase of Equipment ($706,070-$552,300)	(153,770)
Net cash used in investing activities (B)		(201,260)
Cash Flows from Financing Activities
Dividends Paid (Beg. Dividends payable $19,880+Dividends declared $96,260-End. Divindeds payable $23,200)	(92,940)
Issue of Common Stock [(153,000+418,000)-(99,000+279,800)]	192,200
Net cash provided by financing activities (C)		99,260
Net Increase/(Decrease) in Cash (A+B+C)		39,310
Add: Cash Balance at the Beginning of Year		586,340
Cash Balance at the End of Year		625,650