The following is a comparative balance sheet for Top Ten Clothiers Inc. for the years 2011 and 2010:

The income statement for the year ended December 31, 2011, follows:

After paying cash dividends, the decrease in retained earnings totaled $95,000. Management is alarmed by the shrinkage in the company's cash position during 2011. Prepare a statement of cash flows for 2011 using the direct method.

Question

The following is a comparative balance sheet for Top Ten Clothiers Inc. for the years 2011 and 2010:
  
The income statement for the year ended December 31, 2011, follows:
  
After paying cash dividends, the decrease in retained earnings totaled $95,000. Management is alarmed by the shrinkage in the company's cash position during 2011. Prepare a statement of cash flows for 2011 using the direct method.

Quizplus · Accepted Answer

The Answer of The following is a comparative balance sheet for Top Ten Clothiers Inc. for the years 2011 and 2010:
  
The income statement for the year ended December 31, 2011, follows:
  
After paying cash dividends, the decrease in retained earnings totaled $95,000. Management is alarmed by the shrinkage in the company's cash position during 2011. Prepare a statement of cash flows for 2011 using the direct method.

The Following Is a Comparative Balance Sheet for Top Ten