Question: Blue Sea Health Spas began 2012 with cash of 112 000
Blue Sea Health Spas began 2012 with cash of $112,000. During the year, Blue Sea earned service revenue of $599,000 and collected $593,000 from customers. Expenses for the year totaled $380,000, of which Blue Sea paid $370,000 in cash to suppliers and employees. Blue Sea also paid $146,000 to purchase equipment and paid a cash dividend of $52,000 to its stockholders during 2012. Prepare the company’s statement of cash flows for the year ended December 31, 2012. Format cash flows from operating activities by the direct method.
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