Exercise 5-14

The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2014 are as follows.

CONSTANTINE CAVAMANLIS INC. BALANCE SHEETS
Dec.31,2014	Jan. 1, 2014	Inc./Dec.
Assets
Cash	$45,940	$15,920	$30,020	Inc.
Accounts receivable	94,860	90,920	3,940	Inc.
Equipment	42,860	24,920	17,940	Inc.
Less: Accumulated Depreciation-Equipment	19,920	13,920	6,000	Inc.
Total	$163,740	$117,840
Liabilities and Stockholders Equity
Accounts payable	$23,860	$17,920	5,940	Inc.
Common stock	100,940	82,920	18,020	Inc.
Retained earnings	38,940	17,000	21,940	Inc.
Total	$163,740	$117,840

Net income of $47,860was reported, and dividends of $25,920were paid in 2014. New equipment was purchased and none was sold.

Prepare a statement of cash flows for the year 2014. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Constantine Cavamanlis Inc. Statement of Cash Flows For the Year Ended December 31, 2014
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Issuance of Common StockPayment of Cash DividendsNet IncomeDepreciation ExpensePurchase of EquipmentIncrease in Accounts ReceivableIncrease in Accounts Payable	$
Adjustments to reconcile net income to
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Increase in Accounts ReceivableDepreciation ExpensePurchase of EquipmentIssuance of Common StockIncrease in Accounts PayableNet IncomePayment of Cash Dividends	$
Increase in Accounts ReceivableIncrease in Accounts PayableNet IncomePurchase of EquipmentIssuance of Common StockPayment of Cash DividendsDepreciation Expense
Issuance of Common StockPayment of Cash DividendsNet IncomePurchase of EquipmentDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts Receivable
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Increase in Accounts ReceivablePurchase of EquipmentIssuance of Common StockPayment of Cash DividendsIncrease in Accounts PayableNet IncomeDepreciation Expense
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Issuance of Common StockDepreciation ExpensePurchase of EquipmentIncrease in Accounts ReceivableIncrease in Accounts PayablePayment of Cash DividendsNet Income
Net IncomePayment of Cash DividendsDepreciation ExpenseIncrease in Accounts ReceivablePurchase of EquipmentIncrease in Accounts PayableIssuance of Common Stock
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash	$

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