Inglis City had a beginning cash balance in its enterprise fund of $895,635. During 2014, the following transactions occurred:
1. Interest received on investments totaled $42,400.
2. The city acquired additional equity investments totaling $75,000.
3. A grant was received from the state in the amount of $50,000 for summer interns.
4. Receipts from sales of goods or services totaled $2,915,500.
5. Payments for supplies were made in the amount of $1,642,100.
6. Payments to employees for salaries amounted to $479,300.
7. Equipment was sold for $57,500. It had a book value of $56,625.
8. $25,000 was transferred to the General Fund.
9. Other cash expenses for operations were $89,200.
10. Long-term debt payments totaled $525,000.

Prepare a statement of cash flows for the Inglis City enterprise fund. (Ignore the reconciliation of operating income to net cash provided by operating activities since insufficient information is provided to complete the reconciliation.)

  • CreatedJanuary 11, 2014
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