Answer:
Explanation:
Sharp Screen Films, Inc.
Statement of Cash Flows
For the Year Ended December 31, Current year
Cash flows from operating activities:
Net income $ 44,550.00
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense $ 14,450.00
Decease in accounts receivables $ 6,500.00
Increase in Inventory $ (5,350.00)
Decrease in accounts payable $ (10,200.00)
Decrease in wages payable $ (500.00)
$ 4,900.00
Net cash from Operating Activities $ 49,450.00
Cash flows from investing activities:
Purchase of Equipment $ (58,450.00)
Net cash from Investing Activities $ (58,450.00)
Cash flows from financing activities:
Repayment of notes payable $ (12,000.00)
Issue of Common stock $ 34,900.00
Dividends paid $ (12,050.00)
Net cash from Financing Activities $ 10,850.00
Net change in cash during the year $ 1,850.00
Add: Beginning cash balance $ 65,400.00
Ending cash balance $ 66,650.00