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Question
given the following information, construct the statement of changes in financial position. what happened to the firm's liquidity position during the year?
net income $16.7
decrease in accounts receivable 6.1
increase in accounts payable 13.6
sale of bonds 55.1
dividends 14.8
retirement of bonds 10.8
increase in inventory 15.2
depreciation expense 56.0
cost of goods sold 72.1
reduction in income taxes payable 5.0
sale of stock 0.4
purchase of plant and equipment 91.0
beginning cash 1.1
repurchase of stock 5.6
Answer
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