Additional Data a bought equipment for cash, $21000 b paid $6000 on the long term note payable c Issued new shares of stock for $16,000 cash d no dividends were declined or paid e other expenses included depreciation $5,000 wages $20,000 taxes $6,000 other $6,800 f accounts payable includes only inventory purchases made on credit Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash Required Prepare the statement of cash flows for the year ended December 31, 2013, using the indirect method Based on the cash flow statement, write a short paragraph explaining the major sources and uses of cash during 2013 Additional Data a bought equipment for cash, $21000 b paid $6000 on the long term note payable c Issued new shares of stock for $16,000 cash d no dividends were declined or paid e other expenses included depreciation $5,000 wages $20,000 taxes $6,000 other $6,800 f accounts payable includes only inventory purchases made on credit Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash Required Prepare the statement of cash flows for the year ended December 31, 2013, using the indirect method Based on the cash flow statement, write a short paragraph explaining the major sources and uses of cash during 2013

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Additional Data: a. bought equipment for cash, $21000 b. paid $6000 on the long-term note payable c. Issued new shares of stock for $16,000 cash

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Additional Data:

a. bought equipment for cash, $21000

b. paid $6000 on the long-term note payable

c. Issued new shares of stock for $16,000 cash

d. no dividends were declined or paid...

e. other expenses included depreciation $5,000; wages $20,000; taxes $6,000; other $6,800

f. accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash.

Required:

Prepare the statement of cash flows for the year ended December 31, 2013, using the indirect method.
Based on the cash flow statement, write a short paragraph explaining the major sources and uses of cash during 2013.

Additional Data: a. bought equipment for cash, $21000 b. paid $6000 on the long-term note payable c. Issued new shares of stock for $16,000 cash d. no dividends were declined or paid... e. other expenses included depreciation $5,000; wages $20,000; taxes $6,000; other $6,800 f. accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: Prepare the statement of cash flows for the year ended December 31, 2013, using the indirect method. Based on the cash flow statement, write a short paragraph explaining the major sources and uses of cash during 2013