Question
Prepare the Statement of Cash Flows based on the information sent by PickU Corporation PickU Corporation Income Statement for the year ended Dec 31, 2021
Prepare the Statement of Cash Flows based on the information sent by PickU Corporation
PickU Corporation Income Statement for the year ended Dec 31, 2021
2020 2019
Sales revenue $ 52,000 $ 47,000
less Cost of Goods Sold 23,000 18,000
Gross Profits 29,000 29,000
Less General and Adm. Expenses 4,500 3,500
Selling Expenses 800 625
Depreciation expense 580 325
Total Expenses 5,880 4,450
Operating Profits 23,120 24,550
less Interest Expenses 1,200 1,000
Net Profit Before Taxes 21,920 23,550
less Taxes 21% 4603.2 4945.5
Net Profits After Taxes 17,317 18,605
less Preferred Dividends 325 325
Earnings Available To Common Stockholders $ 16,992 $ 18,280
A. Prepare a Statement of Cash Flows for the year ended December 31, 2021, organized by cash flow from operating activities, cash flow from investment activities, and cash flow from financing activities. (Value: 26 points, 20 issues @1.30 each)
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