On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year.

Transcribed Image Text:

ACCOUNT Common Stock, $40 par ACCOUNT NO Balance Date Debit Credit Debit Credit 2016 Jan. Balance, 120,000 shares Apr June 30 4,400-share stock dividend 4,800,000 6,000,000 6,176,000 2 30,000 shares issued for cash 1,200,000 176,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Debit Credit Debit Credit 2016 Jan. Apr June 30 Stock dividend 1 Balance 2 30,000 shares issued for cash 360,000 1,080,000 1,194,400 720,000 114,400 ACCOUNT Retained Earnings ACCOUNT NO Balance Date Debit Debit Credit 2016 Jan June 30 Stock dividend Dec. 30 Cash dividend 1 Balance 2,000,000 1,709,560 1,246,360 2,686,360 290,440 31 Net income 1,440,000