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need help ASAP please thank you Comparative balance sheet statements of Davis Inc. are presented below: Additional data (all transactions occurred in 2021 unless otherwise
need help ASAP please thank you
Comparative balance sheet statements of Davis Inc. are presented below: Additional data (all transactions occurred in 2021 unless otherwise specified): Additional data (all transactions occurred in 2021 unless otherwise specified): 1. There were no write-offs of uncollectible accounts in 2021. 2. A building that originally cost $30,000 with accumulated depreciation balance of $20,000 was sold for $2,000. 3. Investments costing $3,000 was sold during the year for $5,000. 4. Land was acquired by paying $8,000 cash and issuing a 13%, seven-year, $22,000 note payable to the seller. 5. New equipment was purchased for $11,000 cash. 3 6. On January 1, $28,000 of bonds was sold at face value. 7. On January 19. Davis issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $15 per share at that time. 8. Cash dividends of $15,000 were paid to shareholders. 9. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $10,000. Davis uses the cost method to account for treasury stock. Davis's 2021 income statement follows (ignore taxes): 6. On January 1,$28,000 of bonds was sold at face value. 7. On January 19, Davis issued a 5% stock dividend ( 1,000 shares). The market price of the $10 par value common stock was $15 per share at that time. 8. Cash dividends of $15,000 were paid to shareholders. 9. On November 12,500 shares of common stock were repurchased as treasury stock at a cost of $10,000. Davis uses the cost method to account for treasury stock. Davis's 2021 income statement follows (ignore taxes): Required: Prepare a statement of cash flows for Davis Corporation for the year ended 2021 Step by Step Solution
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