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Statement of Cash Flows Zowine Company's condensed income statement for the year ended December 31, 20-2, was as follows: Net sales $765,000 Cost of goods

Statement of Cash Flows

Zowine Company's condensed income statement for the year ended December 31, 20-2, was as follows:

Net sales $765,000
Cost of goods sold 550,000
Gross profit $215,000
Operating expenses 30,000
Income before taxes $185,000
Income tax expense 65,000
Net income $120,000

Additional information obtained from Zowine's comparative balance sheets as of December 31, 20-2 and 20-1, was as follows:

20-2 20-1
Cash $60,000 $20,000
Accounts receivable 70,000 100,000
Merchandise inventory 80,000 125,000
Accounts payable 55,000 90,000

The following additional information was obtained from Zowine's financial statements and auxiliary records for the year ended December 31, 20-2:

Acquired a new warehouse $120,000
Bought new warehouse equipment 80,000
Issued a note to the bank 40,000
Issued additional common stock:
Par value 50,000
Paid-in capital in excess of par 20,000
Declared and paid cash dividends 30,000

Required:

Prepare a statement of cash flows for Zowine for the year ended December 31, 20-2. Use a minus to indicate any decreases in cash or cash outflows.

X

Statement of Cash Flows

Prepare a statement of cash flows for Zowine for the year ended December 31, 20-2. Use a minus to indicate any decreases in cash or cash outflows.

Zowine Company
Statement of Cash Flows
For Year Ended December 31, 20-2
Cash flows from operating activities:
Net income $fill in the blank 20f41b08cfff05c_2
Adjustments for changes in current assets and liabilities related to operating activities:
fill in the blank 20f41b08cfff05c_4
fill in the blank 20f41b08cfff05c_6
fill in the blank 20f41b08cfff05c_8

Net cash provided by operating activities

Cash flows from operating activities:
Net income $fill in the blank 20f41b08cfff05c_2
Adjustments for changes in current assets and liabilities related to operating activities:
fill in the blank 20f41b08cfff05c_4
fill in the blank 20f41b08cfff05c_6
fill in the blank 20f41b08cfff05c_8
Net cash provided by operating activities $fill in the blank 20f41b08cfff05c_9
Cash flows from investing activities:
$fill in the blank 20f41b08cfff05c_11
fill in the blank 20f41b08cfff05c_13
Total cash used by investing activities fill in the blank 20f41b08cfff05c_14
Cash flows from financing activities:
$fill in the blank 20f41b08cfff05c_16
fill in the blank 20f41b08cfff05c_18
fill in the blank 20f41b08cfff05c_20
Net cash provided by financing activities fill in the blank 20f41b08cfff05c_21
$fill in the blank 20f41b08cfff05c_23
Cash, January 1, 20-2 fill in the blank 20f41b08cfff05c_24
Cash, December 31, 20-2 $fill in the blank 20f41b08cfff05c_25

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