S1-12. (Learning Objective 3: Preparing a statement of cash flows) Lanos Medical, Inc., ended 20X5 with cash

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S1-12. (Learning Objective 3: Preparing a statement of cash flows) Lanos Medical, Inc., ended 20X5 with cash of $30,000. During 20X6, Lanos earned net income of $72,100 and had adjustments to reconcile net income to net cash provided by operations totaling $22,000 (this is a negative amount).

Lanos paid $45,000 to purchase equipment during 20X6. During 20X6, the company paid dividends of $10,700.

Prepare Lanos’ statement of cash flows for the year ended December 31, 20X6, complete with its proper heading.

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