cash flow statement

End of Chapter Question 7.16 Three sisters formed a partnership, SkinDeep, to sell skincare products made from organic ingredients. They have been operating for one year. The bank balance at the end of the year is $42,960. A summary of business transactions is as follows: Sales to customers $256,000 Receipts from customers 202,000 Payments for inventory 104,000 Payments for electricity, telephone, rent and insurance 5,000 Purchase of a motor vehicle 28,000 Drawings 55,000 Payment of interest 8,000 Loan proceeds 19,000 Interest received 960 Equity injection 21,000 Prepare a statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000). Do not leave any answer fields blank; instead enter 0 as the amount.) SkinDeep Statement of cash flows for the year