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Trying to put together notes for balancing a statement of cash flows but need help with what goes where? also, for 2021 there's -99,000 purchase
Trying to put together notes for balancing a statement of cash flows but need help with what goes where? also, for 2021 there's -99,000 purchase investment in bonds -sell land costing 24,000 for 16,600 resulting in 7,400 loss -Purchase 54,000 in equipment by issuing 54,000 long term note payable to seller. (no cash exchanged in the transaction.) -Declare and pay a cash dividend of 22,000 Income Statement For the Year Ended December 31, 2021 Net sales $2,696,000 Expenses: Cost of goods sold $1,650,000 Operating expenses 798,000 Depreciation expense 21,000 Loss on sale of land 7,400 Interest expense 12,000 Income tax expense 42,000 Total expenses 2,530,400 Net income $ 165,600 December 31 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investments $166,040 74,400 105,000 9,360 $ 94,320 54,000 129,000 4,680 Land 99,000 204,000 258,000 (61,800) $854,000 228,000 204,000 (40,800) $673,200 Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity $ 60,600 5,400 14,400 $ 75,000 8,800 13,400 273,000 219,000 240,000 260, 600 $854,000 240,000 117,000 $673,200 Statement of For the Year Ended December 31, 2021 Cash Flows from Operating Activities: Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities: Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note Noncash Activities
Trying to put together notes for balancing a statement of cash flows but need help with what goes where?
also,
for 2021 there's
-99,000 purchase investment in bonds
-sell land costing 24,000 for 16,600 resulting in 7,400 loss
-Purchase 54,000 in equipment by issuing 54,000 long term note payable to seller. (no cash exchanged in the transaction.)
-Declare and pay a cash dividend of 22,000
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