Groovy, Inc., began 2008 with $95,000 in cash. During 2008, Groovy earned net income of $300,000, and adjustments to reconcile net income to net cash provided by operations totaled $60,000, a positive amount. Investing activities used cash of $400,000, and financing activities provided cash of $70,000. Groovy ended 2008 with total assets of $250,000 and total liabilities of $110,000.
Required
Prepare Groovy, Inc.'s, statement of cash flows for the year ended December 31, 2008. Identify the data items given that do not appear on the statement of cash flows. Also identify the financial statement that reports each unused item.