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LAG Network Inc.'s balance sheet and income statement are as follows: Additional information regarding LAG Network Inc.'s activities during 2020: a. Equipment is purchased for
LAG Network Inc.'s balance sheet and income statement are as follows: Additional information regarding LAG Network Inc.'s activities during 2020: a. Equipment is purchased for $21,600 cash. b. 17,200 common shares are issued for cash at $2.50 per share. c. Declared and paid $57,800 of cash dividends during the year. Required: Prepare a statement of cash flows for 2020 that reports the cash inflows and outflows from operating activities according to the
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