Question
Cash flows from operating activities Net income $ 112,575 Adjustments to reconcile net income to net cash provided by operations: Income statement items not
Cash flows from operating activities Net income $ 112,575 Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Depreciation expense Loss on disposal of equipment Changes in current assets and current liabilities Increase in inventory Decrease in prepaid expenses Decrease in accounts payable Net cash provided by operating activities Cash flows from investing activities Cash paid for equipment Cash received from sale of equipment Cash flows from financing activities: Cash paid for dividends Cash received from issuing stock Cash paid on long-term notes Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31, current year 26,750 11,125 (18,205) (26,856) 745 (64,534) (42,000) 41,600 (42,000) (51,300) (51,300) $ (51,700) $ (51,700)
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