Brazos Medical, Inc., ended 2009 with cash of $24,000. During 2010, Brazos earned net income of $80,000 and had adjustments to reconcile net income to net cash provided by operations totaling $20,000 (this is a negative amount).
Brazos paid $40,000 to purchase equipment during 2010. During 2010, the company paid dividends of $10,000.
Prepare Brazos's statement of cash flows for the year ended December 31, 2010, complete with its proper heading. Follow the format in the summary problem starting on page 25.