Question
George Company was started on January 1, 2013, when it acquired $8,300 cash by issuing common stock. During 2013, the company earned cash revenues of
George Company was started on January 1, 2013, when it acquired $8,300 cash by issuing common stock. During 2013, the company earned cash revenues of $3,950, paid cash expenses of $2,900, and paid a cash dividend of $450. Based on this information, |
The 2013 statement of cash flows would show net cash inflow from operating activities of $1,050.
The 2013 statement of cash flows would show a net cash flow from financing activities of $8,300.
The December 31, 2013 balance sheet would show total equity of $12,250.
The 2013 income statement would show net income of $600.
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