Question

Sampson Company’s balance sheets for December 31, 2011 and 2010, as well as the income statement for the year ended December 31, 2011, are shown next.



Other data:
1. Dividends paid in cash during 2011 were $ 21,000.
2. Depreciation is included in the cost of sales.
3. The change in the accumulated depreciation account is the depreciation expense for the year.

Required
a. Prepare the statement of cash flows for the year ended December 31, 2011, using the indirect method for net cash flow from operating activities.
b. Prepare the statement of cash flows for the year ended December 31, 2011, using the direct method for net cash flow from operating activities.
c. Comment on significant items disclosed in the statement of cashflows.


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  • CreatedMay 28, 2014
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