Selected financial information follows for Furlotte Corporation for the year ended June 30, 2012: Cash, July 1................................................................................$

Question:

Selected financial information follows for Furlotte Corporation for the year ended June 30, 2012:

Cash, July 1................................................................................$ 40,000

Cash paid to suppliers................................................................89,000

Cash paid for equipment...........................................................40,000

Repayment of long-term debt...................................................15,000

Cash dividends paid....................................................................13,000

Cash paid for income tax............................................................20,000

Cash received from customers................................................158,000

Instructions

(a) Prepare a statement of cash flows for Furlotte Corporation for the year ended June 30, 2012.

(b) Comment on the adequacy of cash provided by operating activities to fund the company's investing activities and dividend payments.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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...