The following information is for Redwood Incorporated for the year ended December 31, 2024. Redwood had a
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Question:
The following information is for Redwood Incorporated for the year ended December 31, 2024. Redwood had a balance for cash and cash equivalents of $5,300 on January 1, 2024.
Cash Received from: | |
---|---|
Customers | $ 1,910 |
Interest on investments | 205 |
Sale of land | 105 |
Issuance of common stock | 610 |
Issuance of debt securities | 2,010 |
Cash Paid for: | |
Interest on debt | $ 305 |
Income tax | 81 |
Debt principal reduction | 1,510 |
Purchase of equipment | 4,200 |
Purchase of inventory | 1,000 |
Dividends on common stock | 205 |
Operating expenses | 505 |
Required:
Prepare a statement of cash flows for the year using the direct method for operating activities.
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