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Statement of Cash Flows The comparative balance sheet of Orange Angel Enterprises Inc. at December 3 1 , 2 0 Y 8 and 2 0
Statement of Cash Flows The comparative balance sheet of Orange Angel Enterprises Inc. at December Y and Y is as follows: Dec. Y Dec. Y Assets Cash $ $ Accounts receivable net Merchandise inventory Prepaid expenses Equipment Accumulated depreciationequipment Total assets $ $ Liabilities and Stockholders' Equity Accounts payable merchandise creditors $ $ Mortgage note payable Common stock, $ par Excess of paidin capital over par Retained earnings Total liabilities and stockholders equity $ $ Additional data obtained from the income statement and from an examination of the accounts in the ledger for Y are as follows: Net income, $ Depreciation reported on the income statement, $ Equipment was purchased at a cost of $ and fully depreciated equipment costing $ was discarded, with no salvage realized. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. shares of common stock were issued at $ for cash. Cash dividends declared and paid, $ Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from used for operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Orange Angel Enterprises Inc. Statement of Cash Flows For the Year Ended December Y
Statement of Cash Flows
The comparative balance sheet of Orange Angel Enterprises Inc. at December Y and Y is as follows:
Dec. Y Dec. Y
Assets
Cash $ $
Accounts receivable net
Merchandise inventory
Prepaid expenses
Equipment
Accumulated depreciationequipment
Total assets $ $
Liabilities and Stockholders' Equity
Accounts payable merchandise creditors $ $
Mortgage note payable
Common stock, $ par
Excess of paidin capital over par
Retained earnings
Total liabilities and stockholders equity $ $
Additional data obtained from the income statement and from an examination of the accounts in the ledger for Y are as follows:
Net income, $
Depreciation reported on the income statement, $
Equipment was purchased at a cost of $ and fully depreciated equipment costing $ was discarded, with no salvage realized.
The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.
shares of common stock were issued at $ for cash.
Cash dividends declared and paid, $
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from used for operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
Orange Angel Enterprises Inc.
Statement of Cash Flows
For the Year Ended December Y
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