Nathan Martin has the following data he needs you to include on his Statement of Cashflows

• Net Income: $32,000
• Depreciation: 10,000
• Gain on a sale: 8000
• Accts Rec decrease: 5,000
• Inventory decrease: 6,000
• Pre-paid Insurance: 13,000
• Accounts payable: 9,000
• Income tax payable: 2,000
• Purchase of long-term assets: 15,000
• Sale of plant assets: 28,000
• Purchase of Patent: 60,000
• Issuance of common stock: 70,000
• Payment of dividends: 13,000

Provide the following:

1. A Statement of Cashflows categorizing the aforementioned under Operation, Investing, and Financing Activities
2. Indicate whether the entries increase or decrease cash by indicating next to your numerical entry "+" or "-"
3. Provide line item totals for "Cash provided by operating activities...investing activities...financing...Net increase/decrease in Cash...Cash at the Beginning of the Year...and Cash at the End of the Year

Answer rating: 100% (QA)

Statement of Cashflows Operating Activities Net Income 32000 Depr... View the full answer