Question: The comparative balance sheet of Canace Products Inc for December

The comparative balance sheet of Canace Products Inc. for December 31, 2014 and 2013, is as follows:

Additional data obtained from an examination of the accounts in the ledger for 2014 are as follows:
a. Equipment and land were acquired for cash.
b. There were no disposals of equipment during the year.
c. The investments were sold for $176,000 cash.
d. The common stock was issued for cash.
e. There was a $28,000 debit to Retained Earnings for cash dividends declared.

Prepare a statement of cash flows, using the direct method of presenting cash flows from operatingactivities.
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  • CreatedFebruary 28, 2014
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