The Changes in Each Balance Sheet Account for Carver Corporation

Essay

The changes in each balance sheet account for Carver Corporation during the year just completed are as follows: Carver Corporation's income statement for the year just ended shows the following: The company did not dispose of any property,plant,and equipment,buy any long-term investments,issue any bonds payable,or repurchase any of its own common stock during the year.Carver Corporation uses the direct method to construct its statement of cash flows.
Required:
a.Determine the sales adjusted to the cash basis.
b.Determine the cost of goods sold adjusted to the cash basis.
c.Determine the selling and administrative expenses adjusted to a cash basis.
d.Determine the net cash provided (used)by operating activities.
e.Determine the net cash provided (used)by investing activities.
f.Determine the net cash provided (used)by financing activities.