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Maurmeier incorporated is a regional and online golf equipment retailer. The company reported the following for the current year: - Purchased a long-term investment for
Maurmeier incorporated is a regional and online golf equipment retailer. The company reported the following for the current year: - Purchased a long-term investment for cash, $19,000. - Paid cash dividend, $10,400. - Sold equipment for $6,800 cash (cost, $22,600; accumulated depreciation, $15,800 ). - Issued shares of no-par stock, 580 shares at $10 cash per share. - Net income was $21,000. - Depreciation expense was $3,800. Its comparative balance sheet is presented below. Complete the T-account worksheet to be used to prepare the statement of cash fows for the current year. Based on the T-account worksheet, prepare the statement of cash flows for the current year in proper format: Note: Amounts to be deducted should be indicated with a minus sign
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