The following is a comparative balance sheet for Cool Covers Clothiers Inc.for the years 2014 and 2013:

The income statement for the year ended December 31,2014,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 2014.Prepare a statement of cash flows for 2014 using the direct method.

Question

The following is a comparative balance sheet for Cool Covers Clothiers Inc.for the years 2014 and 2013:
  
The income statement for the year ended December 31,2014,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 2014.Prepare a statement of cash flows for 2014 using the direct method.

Quizplus · Accepted Answer

The Answer of The following is a comparative balance sheet for Cool Covers Clothiers Inc.for the years 2014 and 2013:
  
The income statement for the year ended December 31,2014,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 2014.Prepare a statement of cash flows for 2014 using the direct method.

The Following Is a Comparative Balance Sheet for Cool Covers