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hoping for help with this Shotp Screen Films, Inc, is developing its annual financial statements at December 31, current year. The statements are complete except
hoping for help with this
Shotp Screen 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 cash $58.950 b Paid $10.600 on the long term note payable. c. Issued new shares of stock for $32700 cash a. Divisends of $13,550 were declared and paid e. Other expenses all relate to woges. i Accounts poyoble includes only inventory purchases made on creda Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 3t current year. (List cash outfloms as negotive amounts.) b. Paid $10.600 on the long-term note payable. c. Issued new shares of stock for $32,700 cash. d. Dividends of $13,550 were declared 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 year. (List cash outflows as negative amounts.) Step by Step Solution
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