Reference no: EM133013932
Question - The records for Todd Inc. showed the following during 2015:
Services used this period but not paid yet $350
Cash paid for services to be used next period $150
Cash dividends declared and paid during this period $400
Purchased new equipment on account for 13,000
Cash collected for services to be provided next period $560
Gain on sale of land for $700
Cash paid for bonds payable retirement $12,000
Stock dividends announced and distributed $10,000
Services provided this period but not yet collected $340
Issue of common stock for cash $20,000
Cash paid for expenses incurred this period $45,500
Services used up this period that were prepaid in a previous period $250
Cash collected for services provided this period, $90,000
Increase in Accumulated depreciation by $2,500
Cash paid for services used in previous period $470
Required -
1. Calculate Todd Inc.'s net income for 2015.
2. Calculate Todd Inc.'s net cash flow from operating activities for 2015.
3. Calculate Todd Inc.'s change in assets for 2015.
4. Calculate Todd Inc.'s change in liabilities for 2015.
5. Calculate Todd Inc.'s change in Equity for 2015.