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Comparative balance sheets for Cincinnati Health Club are presented below. 1. Cincinnati Health Club reported net income of $2,600 for the year. 2. No buildings
Comparative balance sheets for Cincinnati Health Club are presented below. 1. Cincinnati Health Club reported net income of $2,600 for the year. 2. No buildings or equipment were sold during the year. Equipment was purchased for $10,000 cash. 3. Depreciation expense was $28,000. 4. Bonds payable of $50,000 were issued for cash during the year. 5. Common stock of $40,000 was issued during the year. 6. Cash dividends of $19,700 were declared and paid during the year. Required: 1. Using the data above and Exhibit 10 as a guide, create a spreadsheet to prepare a statement of cash flows
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