Question
Chapter 12 HW Problems 0 10 2 Sharp Screen Fans, Inc. is developing its annual financial statements at December 3 coment yes. The statements
Chapter 12 HW Problems 0 10 2 Sharp Screen Fans, Inc. is developing its annual financial statements at December 3 coment yes. The statements are comp except for the statement of cash Sows. The completed comparative balance sheets and income statement are su Balance sheet at December 31 Cash Accounts receivable 16,550 64,708 23,558 Merchandise inventers Property and equipment 210, Less Accumulated depreciation te,see $21771 Accounts payable $18,500 wages payable 5,100 Bete payable, long-te Con stock and additional paid-in capital $259,3 Income statement for current year Sales 201 Cest of goods sold 35,000 Depreciation expense Other expenses 14,354 Additonal Data Bought equipment for cash, $59.350 Paid $17040 on the long-term note payable Issued new shares of stock for $33.900 cash d Dividends of $710 were declined and ped e. Other expenses all relate to wages Accounts payable includes only inventory purchases made on credit Required: 1. Prepare the statement of cash flows using the direct method for the year ended December 31, cunt year List cash outfew as negative amounts)
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