The following comparative balance sheet and other information relate to Runnels Corporation.
Additional information:
Depreciation expense $280
Cash dividends declared and paid 70
a.Compute net income,assuming net income and the cash dividends were the only items affecting retained earnings.Show your work.
b.Compute net cash flows from operating activities using the indirect method.

Question

The following comparative balance sheet and other information relate to Runnels Corporation.
 Additional information:
Depreciation expense $280
Cash dividends declared and paid 70 
a.Compute net income,assuming net income and the cash dividends were the only items affecting retained earnings.Show your work.
b.Compute net cash flows from operating activities using the indirect method.

Quizplus · Accepted Answer

The Answer of The following comparative balance sheet and other information relate to Runnels Corporation.
 Additional information:
Depreciation expense $280
Cash dividends declared and paid 70 
a.Compute net income,assuming net income and the cash dividends were the only items affecting retained earnings.Show your work.
b.Compute net cash flows from operating activities using the indirect method.

The Following Comparative Balance Sheet and Other Information Relate to Runnels