224 Chapter 5 Statement of Financial Position and Statement of Cash Flows LOPEZ INC. STATEMENTS OF FINANCIAL POSITION Assets Equipment Less: Accumulated depreciation-equipment Accounts receivable Cash Total Equity and Liabilities Share capital-ordinary Retained earnings Accounts payable Total Dec. 31, 2015 $ 39,000 (17,000) 91,000 45,000 $158,000 Instructions Prepare a statement of cash flows for the year 2015. $100,000 38,000 20,000 $158,000 Jan. 1, 2015 $ 22,000 (11,000) 88,000 13,000 $112,000 $ 80,000 17,000 15,000 $112,000 Inc./Dec. $17,000 Inc. 6,000 Inc. 3,000 Inc. 32,000 Inc. 20,000 Inc. 21,000 Inc. 5,000 Inc. en Net income of $34,000 was reported, and dividends of $13,000 were paid in 2015. New equipment was purchased and none was sold.

24 Chantar E. . ........ and Statement of Cash Flows Net income of $34,000 was reported, and dividends of $13,000 were paid in 2015 . New equipment wa purchased and none was sold. Instructions Prepare a statement of cash flows for the year 2015