Question: why is answer incomplete? please help P5-2 Preparing the Statement of Cash Flows (Indirect Method) LO5-1, 5-2, 5-3, 5-5, 5-7 Selected financial information for Frank




P5-2 Preparing the Statement of Cash Flows (Indirect Method) LO5-1, 5-2, 5-3, 5-5, 5-7 Selected financial information for Frank Corporation is presented below. Selected 2020 transactions are as follows: a. Purchased investment securities for $6,300 cash. b. Borrowed $17,600 on a two-year, 8 percent interest-bearing note. c. During 2020 , sold machinery for its carrying amount; recelved $12,950 in cash. d. Purchased machinery for $52,600; paid $10,300 in cash and signed a four-year note payable to the dealer for $42,300. e. Declared and paid a cash dividend of $11,300 on December 31, 2020. Selected account balances at December 31,2019 and 2020 are as follows: One-fourth of the sales and one-third of the purchases were made on credit. One-fourth of the sales and one-third of the purchases were made on credit. Answer is not complete. FRANK CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from operating activities
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