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Comparative balance sheets for Will Smith Company are presented below. Additional information: Net income for 2015 was $125,000 Bonds payable amounting to $50,000 were redeemed
Comparative balance sheets for Will Smith Company are presented below. Additional information: Net income for 2015 was $125,000 Bonds payable amounting to $50,000 were redeemed for cash $50,000. Common stock was issued for $30,000 cash. Sales for the year were $978,000. Prepare the operating activities section in the statement of cash flows for 2015 using the indirect method Prepare the investing activities section in the statement of cash flows for 2015. 3. Prepare the financing activities section in the statement of cash flows for 2015
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