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Question 1: Determine and constructing the financial statement of cash flows. Assume the tax rate is 42.5% and all taxes are current. Interest expense is $5,000.
Example Corporation Statement of Cash Flows For the Year Ended December 31, 2018
Cash Flow from Operating Activities
Net income
523.000
Add: depreciation expense
4.000
Increase in accounts receivable
(6.000)
Decrease in inventory
9.000
Decrease in accounts payable
(5.000)
Cash provided (used) in operating activities
25.000
Cash Flow from Investing Activities Capital expenditures
(28.000)
Proceeds from sale of property
7.000
Cash provided (used) by investing activities
(21,000)
Cash Flow from Financing Activities Borrowings of long-term debt
10.000
Cash dividends
Purchase of treasury stock
(8.000)
Cash provided (used) by financing activities
(3.000)
Net increase in cash
1.000
Cash at the beginning of the year
1.200
Cash at the end of the year
2.200
The issuance of direct materials for use in production.
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