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Topic: Statement of Cash Flows Wilson, Inc. reported the following amounts during the current and prior years: Dec. 31 Current Year Dec. 31 Prior
Topic: Statement of Cash Flows Wilson, Inc. reported the following amounts during the current and prior years: Dec. 31 Current Year Dec. 31 Prior Year ($11,000) Net cash provided (used) by operating activities Net cash provided (used) by financing activities (5,000) $26,000 45,000 (16,000) Net cash provided (used) by investing activities (65,000) 75,000 Cash balance ? 40,000 Net income 36,000 A. How much is the net increase or decrease in cash during the current year? b. How much will the company report on its balance sheet at December 31 of the current year as Cash?
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