33. The initial step in the recording process is posting.

True

False

43. Tradewinds Corporation was organized on January 1, 2017, with the investment of $500,000 in cash by its stockholders. Tradewinds signed a ten-year, $300,000 promissory note at a local bank during 2017 and received cash in the same amount. The company immediately purchased an office building for $800,000, paying in cash. During its first year, Tradewinds generated $35,000 in cash from operations and paid $30,000 in cash dividends.

A) In good form, prepare a statement of cash flows for the year ended December 31, 2017.

B) What does this statement tell you that an income statement does not?