Reference no: EM132589365

Question - LACK DAWN CORPORATION has the following information relating to its cash flows for the year ended December 31, 2020:

Issuance of capital stock 20,000

Purchase of long term investments 16,000

Sale of furniture and fixtures 10,000

Payment of cash dividends 15,000

Decrease in accounts receivable 2,000

Increase in inventories 7,000

Payment of long term bonds payable 30,000

Depreciation expense 10,000

Increase in salaries payable 1,000

Decrease in other accrued payables 25,000

Net income for the period 70,000

Cash balance, January 1 4,000

Required - Prepare Lack Dawn Corporation's STATEMENT OF CASH FLOWS for the year ended December 31, 2020?