Prepair a complete statement of cash flows using above

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Reference no: EM13571821

Prepair a complete statement of cash flows using above pictures. report its operating activities using the indirent method. identify the debits and credits in the analysis of changes columns that correspond to following events:

a. net income was 73,750

b. accounts receivable increased

c. merchandize inventory increased.

d. prepaid expenses decreased.

e. accounts payable decreased.

f. depreciation expense was 18,750.

g. sold equipment costing 46,875, with accumulated depreciation of 28,125 for 13,625 cash. this yeilded a loss of 5,125

h. purchased equipment costing 96,375 by paying 25,000 cash and (i) by signing a long term note payable for the balance.

j. borrowed 3,750 cash by signing a short term note payable

k. paid 31,375 cash to reduce the long term notes payable.

l. issued 2,500 shares of common stock for $18 cash per share.

m. declared and paid cash dividends of 62,125

Reference no: EM13571821

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