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hi i was hopping someone could help with this problem Sharp Sereen Films, Inc, is developing its annual financial statements at December 31, current year.
hi i was hopping someone could help with this problem
Sharp Sereen Films, Inc, is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows Additional Data a. Bought equipment for cosh $58,950 b. Paid $10,600 on the long-term note payable c. Issued new shares of stock for $32700 cash d Dividends of $13.550 were declored and paid e. Other expenses all relate to wages f. Accounts payable includes only inventory purchases made on credit. Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 31, current yeat. (List cash outhlows as negative amounts.) Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 31, current year. (List cash outflows as negative amounts.) Step by Step Solution
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