The accounting records of Steven Corporation reveal the following:

Requirements
1. Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method.

2. Evaluate the operating cash flow of Steven Corporation. Explain.

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A1 Н Dividends Payable Cash Treasury Stock Equipment Cash Bonds Payable Cash Cash Common Stock Paid-in Capital in Excess of Par 28,000 h. 1 25,000 a. 28,000 25,000 70,000 b. 12,000 i. 3 Cash 70,000 j. 17,000 93,000 k. 12,000 110,000 Land Cash Cash Accounts Receivable 123,000 C. 123,000 74,000 13,000 d. Depreciation Expense 16,000 Accumulated Depreciation 16,000 T. Service Revenue Salary Expense Cash Furniture and Fixtures Cash 87,000 2,000 Loss on Disposal of Equipment 36,000 10 e. Equipment, Net 2,000 36,000 11 f. Building 235,000 36,000 12 13 14 g. Cash m. Note Payable, Long-Term 235,000 36,000 10,000 10,000 Long-Term Investment