Answer:
Statement of cash flows for the year
<u>Cash flow from Operating Activities</u>
Loss on sale of equipment $22,125
Net Cash Provided by Operating Activities $22,125
<u>Cash flow from Investing Activities</u>
Proceeds from sale of equipment $28,625
Purchase of equipment ($64,000)
Net Cash used by investing activities ($35,375)
<u>Cash flow from Financing Activities</u>
Note Payable Issued $5,700
Repayment of Note Payable ($58,625)
Issue of Common Stock $84,000
Cash Dividends Paid ($53,500)
Net Cash used by Financing activities ($22,425)
Explanation:
Statement of cash flows for the year shows results of cash resulting from the following activities :
- Cash flow from Operating Activities
- Cash flow from Investing Activities
- Cash flow from Financing Activities