Question: complete a Statement of Cash Flows (direct method) for Closure, Inc. for the year ended December 31, 2020. Closure, Inc. Statement of Cash Flows For

complete a Statement of Cash Flows (direct method) for Closure, Inc. for the year ended December 31, 2020.

Closure, Inc.

Statement of Cash Flows

For the Year Ended December 31, 2020

Cash Flows from Operating Activities

Net cashAnswer

provided by

used in

operating activities

$Answer

Cash Flows from Investing Activities

Purchase of Equipment

$Answer

Sale of Equipment

$Answer

Net cashAnswer

used in

provided by

investing activities

$Answer

Cash Flows from Financing Activities

Payment of dividend

$Answer

Retirement of mortgage loan

$Answer

Receipt of mortgage loan

$Answer

Issuance of preference shares

$Answer

Issuance of ordinary shares

$Answer

Net cashAnswer

used in

provided by

financing activities

$Answer

NetAnswer

decrease

increase

in cash

$Answer

Cash, January 1, 2020

$Answer

Cash, December 31, 2020

$Answer

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2. Find out if there are other reference points that can be used as reasonable alternatives.

1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.