HOMEWORK #3 $ effect CASH ACCOUNTS REC INVENTORY LAND EQUIPMENT A/D 12/31/2014 12/31/2013 7,600 8,500 11,200 13,600 5,000 3,200 37,000 84,000 52,000 (27,600) (16,400) 80,200 97,900 CHANGE (900) (2,400) 1,800 (37,000) 32,000 (11,200) ACCOUNTS PAYABLE ACCRUED LIABILITIES WAGES PAYABLE NOTES PAYABLE COMMON STOCK RETAINED EARNINGS 5,100 8,600 750 28,600 26,150 11,000 80,200 4,300 9,300 1,120 53,000 21,180 9,000 97,900 800 (700) (370) (24,400) 4,970 2,000 Land sold for $42,500 Cash Adj. Collections Interest received To suppliers Income Statement: Sales revenue Interest revenue Gain on Sale COGS Other operating expenes Salaries expense Interest expense Income tax expense Depreciation expense Net Income 54,700 980 5,500 (31,200) (2,150) (8,100) (500) (1,030) (11,200) 7,000 To employees For interest For taxes Net Cash STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Receipts: Collections from Customers Interest Received Payments: To suppliers To employees For interest For income taxes Net cash flow from opeartions CASH FLOWS FROM INVESTING ACTIVITIES: Add: Less: Net cash flow investing CASH FLOWS FROM FINANCING ACTIVITIES: Add: Less: Net cash flow financing in cash Cash at the beginning of the year Cash at the end of the year