Question

Refer to Problem 23-9A. The following additional information was obtained from Zowine's financial statements and auxiliary records for the year ended December 31, 20-2:
Acquired a new warehouse ......... $120,000
Bought new warehouse equipment ...... 80,000
Issued a note to the bank .......... 40,000
Issued additional common stock:
Par value ............... 50,000
Paid-in capital in excess of par ........ 20,000
Declared and paid cash dividends ....... 30,000
In Problem 23-9, Zowine Company's condensed income statement for the year ended December 31, 20-2, was as follows:
Net sales ............. $765,000
Cost of goods sold ......... 550,000
Gross profit ........... $215,000
Operating expenses ........ 30,000
Income before taxes ....... $185,000
Income tax expense ........ 65,000
Net income ............ $120,000
Additional information obtained from Zowine's comparative balance sheets as of December 31, 20-2 and 20-1, was as follows:


Required
Prepare a statement of cash flows for Zowine for the year ended December 31,20-2.


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  • CreatedJune 07, 2014
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