Need Help with the T-Account approach

Issued new shares of common stock for $20,000 cash. Cash dividends of $23,700 were declared and paid to stockholders. . . Accounts Payable arose from inventory purchases on credit. Income Tax Expense (s4,000) and Interest Expense (53,000) were paid in full at the end of both years and are included in Other Expenses. Required: Prepare a schedule summarizing operating, investing, and financing cash flows using the T-account approach. Cash Operating Net Income Depreciation Expense 7,000 Inventory 2,800 Account payable 57,880 22,120 14,000 1,400 85,600 laries and Wages Payable et cash flow provided by operating activities Investing se Equipment (74,000) 74,000 et cash flow used in investing activities Financing et cash flow used by financing activities et decrease in Cash 103,200 Beginning balance Ending balance 83,100 Problem 12-206 LO 12-S21 The management team of Wickersham Brothers Inc. Is preparing its annual financlal statements. The statements are complete except for the statement of cash nows The completed comparative balance sheets and Income statements are summarized Balance Sheet Cash 83,100$103,200 112,00098.000 84,00091,000 158,00084,000 (45,120) (23,000) Total Assets 391,980 $353,200 Liabilities: Accounts Payable Salaries and Wages Payable Notes Payable, Long-Term Stockholders Equity Common Stock Retained Eamings $ 14,000S16,800 1,400 70,00084,000 2,800 132,000 112,000 ,000 173,180 139 Total Liabilities and Stockholders Equity $391,980 $353.200 Income Statement $360,000 190,000 22.120 90,000 Sales Cost of Goods Sold Other Expenses Net income $ 57,880 Other information from the company's records includes the following: Bought equipment for cash, $74,000 . Paid $14,000 on long-term note payable . Issued new shares of common slock for $20.000 cash . Cash dividends of $23,700 were declared and paid to stockholders. . Accounts Payable arose from inventory purchases on cred xpense ($4,000) and Interest Expense ($3000) were paid in full at the end of both years and are included in Other Expenses