Complete the Statement of Cash Flows for Anchor Corporation using the indirect method and answer the following questions: – Cash Flows from Operating Activities? – Cash Flows from Investin

Complete the Statement of Cash Flows for Anchor Corporation using the indirect method and answer the following questions:

– Cash Flows from Operating Activities?

– Cash Flows from Investing Activities?

– Cash Flows from Financing Activities?

– Net increase/ decrease in cash?

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Anchor Corporation
Comparative Balance Sheet
Dec 31, 2010 and Dec 31, 2011
2011
2010
Assets
Current:
Cash
$
22
$
42
Accounts receivable
96
81
Inventory
143
145
Property, Plant and Equipment
(net of depreciation)
464
219
Total
725
487
Liabilities
Current:
Accounts Payable
91
57
Accrued Liabilities
5
9
Long-term:
Bonds
Payable
160
77
Stockholder’s Equity
Common Stock
359
258
Retained Earnings
110
86
Total
725
487
Anchor Corporation
Income Statement
Dec 31, 2011
Revenues:
Sales Revenue
$
284
Interest Revenue
12
Dividend Revenue
9
Gain on sale of P, P & E
8
Total Revenue
$313
Expenses:
Cost of Goods Sold
150
Salary and Wage Expense
56
Depreciation Expense
18
Other operating Expenses
17
Interest expense
16
Income Tax Expense
15
Total Expense
$272
Net Income
$41
Additional Information

Additional P, P & E was purchased for $317

P, P & E sold had a book value of $54

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Long-term bonds were issued for cash at par value

$17 in dividends were paid

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