Wie curtent year are as follows: + Nert income, $75,600. - Depreciation regorted on income itatement, $38,000. - Fulliv depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000. - 7,500 shorm of comman stock wrere issued at $30 for cash. - Cash dipdends deciared and paid, 540,060 . - Imesatments of $100,000 were sald fer $125,000. Statement of Cash Flows For the Year Ended December 31, Year 2 Line Item Description Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Cash from sale of investments Chanpes in current operating assets and liabaities: pecrease in accounts receivabie Increase in inventories Increase in accounts payable Net cash flows from operating activities Cash fows from (used for) investing activities: Gath reccived lrom sale of investments . Cash bala for purchast of equ pirtient. Net cash flows used for investing activites Cash flows from (used for) firiancing octivities: Gishifromsale of cominon stoce. Civi void fordividernas thet caph nows used for financing activities Gahbaionce, Janumry 1, Keer 2 Amount Amount 25,000 $24.500 \begin{tabular}{r} 5125,000 \\ 150,000 \\ \hline \\ 175,000 \\ 45,000 \\ 45,000 \\ \hline \end{tabular} 40,000 \( 5 \longdiv { 2 9 , 8 0 0 } \) 42,500 Previaus Next