The assignment is to create a cash flow statement like we did in class which is the direct method.

Make sure it balances.

It is worth 100 points

30 points if the main part balances

20 points if the reconciliation balances

Cash Cash Difference Cash Received Paid Interest Interest Income Received Paid Tax Paid Financing Investing Depreciation Cash Accounts Receivable Inventory Investments Prepaid expenses Interest receivable Fixed assets Accumulated depreciation Total assets 157 486 1,917 1,200 55 16 1,489 657 4,663 194 944 1,872 1,367 532 17 1,883 894 5,915 Accounts payable Line of credit Income taxes payable Payroll taxes and fringes Interest payable Long term debt Total liabilities 697 1,000 27 216 1,098 1,277 16 524 14 70 2.999 11 489 2,440 Common stock Additional paid in capital Retained earnings Total equity Total liabilities and equity 100 586 1,537 2,223 4,663 115 772 2,029 2916 5,915 Sales Cost of goods sold Gross profit Interest revenue Interest expense Depreciation Bad debts Other expenses Net income before tax Income tax Net income 5315 3119 2,196 94 71 452 48 904 815 145 670 Proceeds from the sale of fixed assets 295