Question: Based on the data below, complete a Statement of Cash Flows, using the indirect method Cash Balance, 1-1-16: $200,000 A/R, 1-1-16: $50,000 A/R, 12-31-16: $40,000
Based on the data below, complete a Statement of Cash Flows, using the indirect method
Cash Balance, 1-1-16: $200,000
A/R, 1-1-16: $50,000
A/R, 12-31-16: $40,000
A/P, 1-1-16; $60,000
A/P, 12-31-16: $55,000
Inventory, 1-1-16: $80,000
Inventory, 12-31-16: $90,000
Income Tax Payable, 1-1-16: $40,000
Income Tax Payable, 12-31-16: $50,000
Accrued Interest Receivable, 1-1-16: $4000
Accrued Interest Receivable, 12-31-16: $5000
Accrued Interest Payable, 1-1-16: $10,000
Accrued Interest Payable, 12-31-16: $12,000
Depreciation = $10,000
Purchased Land on 1-1-16: $1,000,000
Sold Equipment on 1-1-16: $500,000
Issued Common Stock on 1-1-16: $1,500,000
Issued Bonds on 1-1-16; $500,000
Paid Cash Dividends on 9-1-16: $50,000
Net Income : $2,000,000
Cash Balance, 12-31-16: ?
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