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[The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of operations: Received $14,000
[The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of operations:
Received $14,000 cash from the issue of common stock.
Performed services on account for $45,000.
Paid the utility expense of $1,050.
Collected $37,560 of the accounts receivable.
Recorded $9,800 of accrued salaries at the end of the year.
Paid a $1,200 cash dividend to the stockholders.
b-4. Prepare the statement of cash flows for the Year 1 accounting period. (Amounts to be deducted should be indicated with a minus sign.) MILEA, INC Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities Cash received from customers Net cash fow from operating activities Cash flow from investing activities Cash flow from financing activities Issue of stock Paid dividend Net cash flow from financing activities Net change in cash Plus: Beginning cash balance Ending cash balanceStep by Step Solution
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