Ako Co's accountant is preparing the company's Statement of Cash Flows for 200B. Selected information that may be helpful in the preparation of the Statement is as follows:
Dec 31 200B
Dec 31 200A
Increase (Decrease)
Cash
53,760
10,400
43,360
Accounts Receivable
62,000
48,800
13,200
Inventories
66,720
69,360
(2,640)
Accounts Payable
41,680
40,080
1,600
From the 200B income statement:
Sales 526,640
Operating Expenses 464,000
Income Before Tax 62,640
Income Tax 28,240
Net Income 34,400
Other Information:
- Included in the operating expenses are:
- Loss of 1,920 resulting from the sale of an equipment for 21,600 cash
- Depreciation expense 70,400
- The Company purchase machinery for 60,000 cash during the year
- The income tax shown on the income statement was paid in full during the year
- During the year, the company declared and paid dividends of 16,000
Requirement:
1. How much is the net cash flows from investing activities?
2. How much is the net cash flows from financing activities?