Speedy Automobles of Ontario Lid was formed on January 1, 2020, when Speedy issued common shows for 5510,000 Early in Jan 2020, Speedy made the foowing payment (Click the icon to view the transactions) Requirements Total assets . Requirement 3. Prepare Speedy's statement of cash flows for the year ended Transactions enthes decrease in cash. Enter "o" for zero balances. Round your answers to the Speedy Automobiles of Ontario, Ltd Statement of Cash Flows a $220,000 for equipment For the Year Ended December 31, 2020 b. 243.000 for inventory inincasat 527 000 each c. $25,000 to 2020 rent on a store building Cash flows from operating activities In February 2020. Spoedy purchased three cars for iventory on count Cost of inventory was 5117.000 ($30,000 cach) Before year and Speedy pad 8000 of this debt Speedy uses the FIFO mothod to account for inventory. During 2020. prody sold Adjustments to reconcile not income to cloven speedymuitos for a fotal of 5649.000 Before year-end, Speedy conected to of this amount. The business employs two people. The combined an upayrois not cash provided by used for operating activities $151 000, of which Speedy owes $5,000 year-end. At the end of the year, Speedy paid income tax of $22.000 Lite in 2020. Speedy dociated and padcash dividends of $15,000 For equipment, Speedy uses the straight line depreciation method over ve years with zero residual value Print Done Net cash provided by used for operating activities the input fields and then click Check Answer Speedy Automobles of Ontario Lid was formed on January 1, 2020, when Speedy issued common shows for 5510,000 Early in Jan 2020, Speedy made the foowing payment (Click the icon to view the transactions) Requirements Total assets . Requirement 3. Prepare Speedy's statement of cash flows for the year ended Transactions enthes decrease in cash. Enter "o" for zero balances. Round your answers to the Speedy Automobiles of Ontario, Ltd Statement of Cash Flows a $220,000 for equipment For the Year Ended December 31, 2020 b. 243.000 for inventory inincasat 527 000 each c. $25,000 to 2020 rent on a store building Cash flows from operating activities In February 2020. Spoedy purchased three cars for iventory on count Cost of inventory was 5117.000 ($30,000 cach) Before year and Speedy pad 8000 of this debt Speedy uses the FIFO mothod to account for inventory. During 2020. prody sold Adjustments to reconcile not income to cloven speedymuitos for a fotal of 5649.000 Before year-end, Speedy conected to of this amount. The business employs two people. The combined an upayrois not cash provided by used for operating activities $151 000, of which Speedy owes $5,000 year-end. At the end of the year, Speedy paid income tax of $22.000 Lite in 2020. Speedy dociated and padcash dividends of $15,000 For equipment, Speedy uses the straight line depreciation method over ve years with zero residual value Print Done Net cash provided by used for operating activities the input fields and then click Check