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Can anyone please help!? Comparative balance sheet accounts of Martinez Inc. are presented below. Additional data (ignoring taxes): 1. Net income for the year was
Can anyone please help!?
Comparative balance sheet accounts of Martinez Inc. are presented below. Additional data (ignoring taxes): 1. Net income for the year was $42,000. 2. Cash dividends declared and paid during the year were $21,000. 3. A 20% stock dividend was declared during the year. $25,000 of retained earnings was capitalized. 4. Equity investments (level of ownership is less than 20% ) that cost $25,100 were sold during the year for $28,800. No unrealized gains and losses were recorded on these investments in 2020. 5. Machinery that cost $3,700, on which $750 of depreciation had accumulated, was sold for $2,150. (a) Compute net cash flow from operating activities using the direct method. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net cash flow from operating activities \$ (b) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or :..-...tL.... . /A Annil Net Cash Provided by Operating ActivitiesStep by Step Solution
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