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REQUIRED: Using the form provided below, prepare a statement of cash flow using the indirect method. CASH FLOW FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTING
REQUIRED: Using the form provided below, prepare a statement of cash flow using the indirect method.
CASH FLOW FROM OPERATING ACTIVITIES
CASH FLOW FROM INVESTING ACTIVITIES
CASH FLOW FROM FINANCING ACTIVITIES
VII. The comparative balance sheet of the Sparkle Corporation at December 31, 20x2 appears below: ASSETS 20x2 20x1 Cash---- Accounts receivable (net)- Merchandise inventory Prepaid expenses-- Plant assets--- Accumulated depreciation-plant assets. Total Assets $36,200 40,700 91,400 2,800 -180,000 (61,000) $290,100 $25,000 24,000 93,400 2,600 155,000 (84,000) $216,000 LIABILITIES & STOCKHOLDERS' EQUITY $24,500 5,000 Accounts payable -$29,000 Dividends payable 8,000 Mortgage note payable- 25,000 Common stock, $10 par- -175,000 Premium on common stock- 5,000 Retained | earnings: 48,100 Total Liabilities & Stockholders' Equity $290,100 150,000 36,500 $216,000 An examination of the income statement and the accounting records reveals the following information applicable to the current year: (A (B) (C) (D (E) Net income for the year, $21,600 Depreciation expense for the year, XXXXXXXX Cash dividends declared during the year, $10,000 The mortgage note payable is due in 21x8. An addition to the building was constructed during the year at a cost of $60,000 cash, and fully depreciated equipment costing $35,000 was discarded, no salvage being realized. All issuances of stock were for cash. (F)
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