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Make the statement of cash flow using the direct method and discuss the total changes in cash 2005. *The Income statement is not given in
Make the statement of cash flow using the direct method and discuss the total changes in cash 2005.
*The Income statement is not given in this question only balance sheet
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2005 2004 Assets Cash and cash equivalents Accounts receivable (net) Inventory Equipment Accumulated depreciation equipment Total assets $ 30,500 64,500 100,000 55,000 (21.500) $228,500 $ 10.000 51,000 115.000 30,000 (14.000) $192,000 Liabilities and stockholders' equity Accounts payable Long-term notes payable Capital stock Retained earnings Total liabilities and stockholder' equity $ 52,500 70,000 60,000 46,000 $228,500 $ 46,000 50.000 60,000 36.000 $192.000 The following additional information is available: net income for the year 2005 (as reported on the income statement) was $50,000; dividends of $40,000 were declared and paid; and equipment that cost $8,000 and had a book value of $1,000 was sold during the year for $2,500Step by Step Solution
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