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Joe Roberts, a retired navy seal operator, started Special Ops Security, which focuses on providing personal protection to high - profile individuals. The company experienced
Joe Roberts, a retired navy seal operator, started Special Ops Security, which focuses on providing personal protection to highprofile
individuals. The company experienced the following events during its first year of operations, Year :
Acquired $ cash from the issuance of common stock.
Special Ops Security incuried $ of operating expenses on account during Year
The company made cash payments of $ to reduce its accounts payable during Year
Required:
a Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of
cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify
the cash flows as operating activities OA investing activities IA or financing activities FA The first transaction is shown as an
example.
b Is the amount of net income different from the net cash flow from operating activities during Year
Complete this question by entering your answers in the tabs below.
Required
Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specif
model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA
Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed.
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