The Following Information Relates to Lonborg Corporation for the Year

question 148

Essay

The following information relates to Lonborg Corporation for the year ended December 31,2009:
$\begin{array}{lr}\text { Net Income } & \$ 300,000 \\\text { Depreciation Expense } & 72,000 \\\text { Amortization of Intangible Assets } & 9,000 \\\text { Beginning Accounts Receivable } & 336,000\\ \text { Ending Accounts Receivable } & 351,000 \\\text { Beginning Inventory } & 413,000 \\\text { Ending Inventory } & 450,000\\\text { Beginning Prepaid Expenses } & 34,000 \\\text { Ending Prepaid Expenses } & 38,000 \\\text { Beginning Accounts Payable } & 95,000 \\\text { Ending Accounts Pavable } & 116,000\\\text { Purchase of Long-Term Assets for Cash } & 493,000 \\\text { Cash from Issuance of Long-Term Debt } & 160,000 \\\text { Issuance of Stock for Cash } & 128,000 \\\text { Issuance of Stock for Long-Term Assets } & 88,000 \\\text { Purchase of Treasury Stock } & 51,000 \\\text { Sale of Long-Term Investment at Cost } & 31,000\end{array}$
a. Calculate the net cash flows from operating activities. Show your work.
b. Calculate the net cash flows from investing activities. Show your work.
c. Calculate the net cash flows from financing activities. Show your work.
d. Calculate the net change in cash. Show your work.

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Definitions:

Relative Ages

The determination of the age of one feature, rock, or artifact in relation to another without specifying its exact age in years.

Igneous Rock

Rock formed from the cooling and solidification of magma or lava.

Steep-sided Mountain

A steep-sided mountain is characterized by its sharp, high angles and rugged terrain, often formed by volcanic activity or tectonic movements.

Eroded Away

The process by which earth, rocks, or surface material are worn down and removed by the action of wind, water, or ice.