Question: Guling Legal Services Inc ended 2013 with cash of 15 000
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.
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