Burdic Company's net income last year was $70,000. Changes in the company's balance sheet accounts for the year appear below:
The company declared and paid cash dividends of $31,000 last year.
Required:
a. Construct the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.)
b. Construct the investing activities section of the company's statement of cash flows for the year.
c. Construct the financing activities section of the company's statement of cash flows for the year.

Question

Burdic Company's net income last year was $70,000. Changes in the company's balance sheet accounts for the year appear below:  
The company declared and paid cash dividends of $31,000 last year.
Required:
a. Construct the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.)
b. Construct the investing activities section of the company's statement of cash flows for the year.
c. Construct the financing activities section of the company's statement of cash flows for the year.

Quizplus · Accepted Answer

The Answer of Burdic Company's net income last year was $70,000. Changes in the company's balance sheet accounts for the year appear below:  
The company declared and paid cash dividends of $31,000 last year.
Required:
a. Construct the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.)
b. Construct the investing activities section of the company's statement of cash flows for the year.
c. Construct the financing activities section of the company's statement of cash flows for the year.

Burdic Company's Net Income Last Year Was $70,000