Refer to Problem Prepare a statement of cash flows that
Refer to Problem. Prepare a statement of cash flows that includes a reconciliation of net income to net cash provided by operating activities in the body of the statement.
In Problem, During 20X1, Jacinta Manufacturing Company (JMC) declared and paid cash dividends of $10,000. Late in the year, JMC bought new welding machinery for a cash cost of $125,000, financed partly by its first issue of long-term debt. Interest on the debt is payable annually. JMC sold several old machines for cash equal to their aggregate book value of $5,000.
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