Net income of 48220 was reported and dividends of 24170

Reference no: EM13587529

The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2014 are as follows.

CONSTANTINE CAVAMANLIS INC. BALANCE SHEETS
	Dec. 31, 2014	Jan. 1, 2014	Inc./Dec.
Assets
Cash	$ 48,050	$ 14,170	$33,880	Inc.
Accounts receivable	95,220	89,170	6,050	Inc.
Equipment	43,220	23,170	20,050	Inc.
Less: Accumulated Depreciation-Equipment	18,170	12,170	6,000	Inc.
Total	$168,320	$114,340
Liabilities and Stockholders' Equity
Accounts payable	$ 24,220	$ 16,170	8,050	Inc.
Common stock	103,050	81,170	21,880	Inc.
Retained earnings	41,050	17,000	24,050	Inc.
Total	$168,320	$114,340

Net income of $48,220 was reported, and dividends of $24,170 were paid in 2014. New equipment was purchased and none was sold.

Prepare a statement of cash flows for the year 2014. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Constantine Cavamanlis Inc.
Statement of Cash Flows
For the Year Ended December 31, 2014

Reference no: EM13587529

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