Can someone help me with my statement of cashflows for year 2? Starting balances are provided and so are the transactions. Thanks!!
N Statement of Cash Flows Year 2 3 4 5 Cash flows from operating activities Cash receipts from revenue Cash payments for expenses 6 7 8 9 Net cash flow from operating activities $ 10 11 Cash flows from investing activities: 12 Cash payments to purchase equipment $ 13 14 Cash flows from financing activities: 15 Cash receipts from borrowing funds 16 Cash receipts from issuing common stock 13 14 Cash flows from financing activities: 15 Cash receipts from borrowing funds 16 Cash receipts from issuing common stock 17 Cash payments to repay borrowed funds 18 Cash payments for dividends 19 Net cash flow from financing activities $ 20 21 Net increase/(decrease) in cash 22 Plus: beginning cash balance 23 Ending cash balance 24 Assets Cash Accts Rec Inventory Equipment $ 257,000.00 $ 17,500.00 $ 28,000.00 Land Building $ 50,000.00 $ 250,000.00 +0 Format - Fant Agent Formatting Table Styles S Number Select ang Data Anal Cels Smutty 6 N P ding SO 00000 Balance shoot Lab LUTY ACCUOLAGGIO DIV. Poyobo No soyable Wege Commonstock AMC rotondomi 0.333.000.000.00 2.000.000.000.000 Acties for refined a . . . . . . . Year 2 Transaction List: Acquired $550,000 by signing a note payable with a local bank Sold 25,000 shares of $22 Common Stock for $1,500,000 Purchased Equipment for $300,000 Purchased Inventory on Account - 25,000 Units at $1.15 per unit Sold 15,000 units at $3.50 on Account Record COGS for Sales on Account Collect $70,000 on Account Paid $117,250 of Accounts Payable Purchased Inventory on Account - 170,000 Units at $1.50 per unit Sold 175,000 units at $3.50 on Account Record COGS for Sales on Account Collect $472,500 on Account Paid $218,600 of Accounts Payable Purchased Inventory on Account - 275,000 Units at $1.35 per unit Sold 200,000 units at $3.50 on Account Record COGS for Sales on Account Collect $735,000 on Account Purchased Inventory on Account - 300,000 Units at $1.15 per unit Paid $494,150 of Accounts Payable Paid Sales & Marketing Expenses of $30,000 Paid Operating Expenses of $75,708 Record Wages Payable of $40,000 Paid Product Line Research & Development Expenses of $150,000 Paid Advertising Expenses of $87,500 Made the yearly required payment on the note payable. The note carries a 7% interest rate and requires payments of $50,000 plus interest each December 31. Record first year of depreciation expense on equipment purchased in Year 2 with salvage value of $38,000 & useful life of 7 yrs Declared a $10,000 cash dividend for stockholders Paid a $10,000 cash dividend for stockholders