Charitable Giving: Cash-Flow Ethics. Summarized financial statements are as follows for Franklin County Caring Society (FCCS):

Additional data: Computers and software costing \(\$ 25,000\) were acquired in 1999 .
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1. Prepare a statement of cash flows for the year.
2. If a donor asks what happens to all the cash receipts, what would you say?
3. Assume that community needs are great. Comment on FCCS's financial position.

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Membership dues. Fundraising dinners. Donations received Total revenue. Wages and supplies expense Dinner expenses Rent Depreciation of fixtures Benefits provided Total expenses. Net income. $263,100 95,600 212,800 $571,500 $ 99,600 77,200 15,000 11,200 294,200 $497,200 $ 74,300