Prepare gulings statement of cash flows for the year end

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Reference no: EM131312225

Objective : Construct a statement of cash flows.

Guling Legal Services, Inc., ended 2013 with cash of $15,000. During 2014, Guling earned net income of $75,000 and had adjustments to reconcile net income to net cash provided by operations totaling $8,000 (this is a negative amount). Guling paid $29,000 to purchase equipment during 2014.

During 2014, the company paid dividends of $31,000. Prepare Guling's statement of cash flows for the year ended December 31, 2014, complete with its proper heading.

Reference no: EM131312225

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