The income statement, balance sheet, and additional information for Great Adventures, Inc., are provided below. Additional Information

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The income statement, balance sheet, and additional information for Great Adventures, Inc., are provided below.
The income statement, balance sheet, and additional information for Great
The income statement, balance sheet, and additional information for Great

Additional Information for 2014:
1. Borrowed $500,000 in January 2014. Made 12 monthly payments during the year, reducing the balance of the loan by $37,638.
2. Issued common stock for $1.2 million.
3. Purchased 10,000 shares of treasury stock for $15 per share.
4. Reissued 5,000 shares of treasury stock at $16 per share.
5. Declared and paid a cash dividend of $115,000.
Required:
Prepare the statement of cash flows for the year ended December 31, 2014, using the indirect method.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For  book-img-for-question

Financial Accounting

ISBN: 9780078110825

2nd Edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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