Python Legal Services, Inc., ended 2017 with cash of $16,000. During 2018, Python earned net income of

Question:

Python Legal Services, Inc., ended 2017 with cash of $16,000. During 2018, Python earned net income of $115,000 and had adjustments to reconcile net income to net cash provided by operations totaling $9,000 (this is a negative amount). Python paid $20,000 to purchase equipment during 2018. During 2018, the company declared and paid dividends of $15,000. Prepare Python’s statement of cash flows for the year ended December 31, 2018, complete with its proper heading.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

Question Posted: