Question

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


The income statement for the year ended December 31, 2014, 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 $588,000 cash.
d. The common stock was issued for cash.
e. There was a $528,000 debit to Retained Earnings for cash dividends declared.

Instructions
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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