Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Cash balance at prior year-end $ 40,400 Gain on sale of machinery $ 2,100 Increase in inventory 5,400 Cash received from sale of machinery 9,700 Depreciation expense 4,400 Increase in accounts payable 1,700 Cash received from issuing stock 8,400 Net income 27,000 Cash paid for dividends 1,400 Decrease in accounts receivable 3,400

Cash and cash equivalents at the end of the year is $90,100.

Explanation:

VPI Co.

Statement of Cash Flows

Net income                                                                            $27,000

Add: Depreciation expense                                                   $4,400

        Increase in accounts payable                                        $1,700

        Increase in inventory                                                     $5,400

Less: Gain on sale of machinery                                           -$2,100

         Decrease in accounts receivable                               -$3,400

Net cash flows from operating activities                          $33,000...(a)

Proceeds from sale of machinery                                          $9,700

Net cash flows (used in) / from investing activities           $9,700...(b)

Proceeds from issuing stock                                                 $8,400

Dividend paid                                                                         -$1,400

Net cash flows (used in) / from financing activities          $7,000...(c)

Net increase in cash and cash equivalents                      $49,700...(d)=(a)+(b)+(c)

Cash balance at the beginning of the year                         $40,400

Cash and cash equivalents at the end of the year             $90,100

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"