• Using the following information, prepare a statement of cash flows:

  • Cash at beginning of period: $20,000
  • Net Income: $50,000
  • Depreciation Expense: $10,000
  • Increase in Accounts Receivable: $5,000
  • Decrease in Inventory: $8,000
  • Purchase of Equipment: $20,000
  • Issuance of Long-term Debt: $30,000
  • Dividends Paid: $15,000