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Please show all work and prepare in good form. III. Preparation of statement of cash flows - direct method cash from operations (17 points) The
Please show all work and prepare in good form.
III. Preparation of statement of cash flows - direct method cash from operations (17 points) The accounting records of Uniontown Industries, Inc., provided the data below for the December 31, 2020: year ended Sales Cost of goods sold Depreciation expense Insurance expense Selling, general and administrative expenses Interest expense Income tax expense Net income Decrease in inventory Increase in accounts receivable Amortization of bond discount Decrease in prepaid insurance Cash dividends paid $1,000,000 500,000 15,000 6,000 140,000 20,000 125,000 194,000 2,000 1,400 5,000 300 20,000 Required: In good form, prepare the operating activities section of the statement of cash flows for 2020 using the direct method. Show all work for partial credit. (17 points)Step by Step Solution
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