Solution-What amount should Baker report as cash provided

What amount should Baker report as cash provided

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Reference no: EM133065087

Question - Below is Riske's Balance Sheet at December 31, 2020. 2020 was Riske's first year of operations.

Assets

Cash $192,000

Accounts Receivable $82,000

Total Assets $274,000

Liabilities and Stockholders' Equity

Accounts Payable $24,000

Common Stock $200,000

Retained Earnings $50,000

Total Liabilities and Stockholders' Equity $274,000

Riske's net income for the year was $78,000, and dividends of $28,000 were declared and paid. Common stock was issued for $200,000. What amount should Baker report as cash provided by operating activities in its Statement of Cash Flows for the current year?

Reference no: EM133065087

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What amount should Baker report as cash provided

Reference no: EM133065087

Reference no: EM133065087

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