Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 6

Statement of cash flows-direct method
The comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 20Y5, is as follows:

The income statement for the year ended December 31, 20Y6, is follows:

Additional data obtained from an examination of the accounts in the ledger for 20Y6 are as follows:
A. Equipment and land were acquired for cash.
B There were no disposals of equipment during the year.
C. The investments were sold for $176,000 cash,
D. The common stock was issued for cash.
E. There was a $28,000 debit to Retained Earnings for cash dividends declared.
Instructions
Prepare a statement of cash flows, using the direct method od presenting cash flows from operating activities.