Question
The following information is for Redwood Inc. for the year ended December 31, 2013. Redwood had a cash and cash equivalents balance of $5,200 on
The following information is for Redwood Inc. for the year ended December 31, 2013. Redwood had a cash and cash equivalents balance of $5,200 on January 1, 2013. Cash Received from: Customers $ 1,900 Interest on investments 200 Sale of land 100 Sale of common stock 600 Issuance of debt securities 2,000 Cash Paid for: Interest on debt 300 Income tax 80 Debt principal reduction 1,500 Purchase of equipment 4,100 Purchase of inventory 1,000 Dividends on common stock 200 Operating expenses 500 Required: Prepare a statement of cash flows for the year using the indirect method for operating activities.
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