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BG Wholesalers is developing its annual financial statements at December 31, 2013. The statements are complete except for the statement of cash flows. The completed
BG Wholesalers is developing its annual financial statements at December 31, 2013. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Additional Data: Bought equipment for cash, $22, 800. Paid $7, 100 on the long-term note payable. Issued new shares of stock for $20, 000 cash. No dividends were declared or paid. Other expenses included depreciation, $7, 400; wages, $20, 700; taxes, $6, 900; other, $6, 400. Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: Prepare the statement of cash flows for the year ended December 31, 2013, using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.) Cash flows from operating activities: $ ________ Adjustments to reconcile net income to net cash provided by operating activities: $ ________ ______ ________ __________ ______ _______ Net cash operating activities Cash flows from investing activities: ________ Net cash investing activities Cash flows from financing activities: _______ _________ Net cash financing activities ________ Cash balance, January 1, 2013 _______ Cash balance, December 31, 2013 $ ______
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