Sharp Screen Films, Incorporated, is developing its annual financial statements at December 31, current yeat. The statements are complete except for the statement of cash flows. The completed comparative bolance sheets and income statement are summarized as follows: Acditional Date a. Bought equipment for cash, $60,250 b. Paid 513.200 an the long-term note payable. c. lssued new shares of stock for $35,500 cash. d. Dividends of $9,950 were declared and paid e. Other expertses all relate to wages. f Accounts payable includes only inventory purchases made on credit. Required; 1. Prepore the statement of cash fiows using the indirect method for the year ended Decembee 3t, current year. Note: List cash outfiows as negative amounts. Additional Data: a. Bought equipment for cash, $60,250. b. Paid $13,200 on the long-term note payable. c. Issued new shares of stock for $35,500 cash. d. Dividends of $9,950 were deciared and paid. e, Other expenses all relate to wages f. Accounts payable includes only inventory purchases made on credit. Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 31, current year Note: List cash outflows as negative amounts. SHARP SCREEN FILMS, INCORPORATED Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Cash flows from inveiting activities: Prov 5 of 7 Iti Next > Sharp Screen Films, Incorporated, is developing its annual financial statements at December 31, current yeat. The statements are complete except for the statement of cash flows. The completed comparative bolance sheets and income statement are summarized as follows: Acditional Date a. Bought equipment for cash, $60,250 b. Paid 513.200 an the long-term note payable. c. lssued new shares of stock for $35,500 cash. d. Dividends of $9,950 were declared and paid e. Other expertses all relate to wages. f Accounts payable includes only inventory purchases made on credit. Required; 1. Prepore the statement of cash fiows using the indirect method for the year ended Decembee 3t, current year. Note: List cash outfiows as negative amounts. Additional Data: a. Bought equipment for cash, $60,250. b. Paid $13,200 on the long-term note payable. c. Issued new shares of stock for $35,500 cash. d. Dividends of $9,950 were deciared and paid. e, Other expenses all relate to wages f. Accounts payable includes only inventory purchases made on credit. Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 31, current year Note: List cash outflows as negative amounts. SHARP SCREEN FILMS, INCORPORATED Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Cash flows from inveiting activities: Prov 5 of 7 Iti Next >
