Question

Course Hero The income statement for 2021 is as follows: The income Statement for 2021 is as follows: Sales revenue $198,000 Cost of sales 108,900 Gross profit 89,100 Operating expenses 69,000 Net income $20,100 Other Facts: Included in operating expenses: Depreciation Expense 7500 Vehicle expense 2800 Interest Expense 15600 Gain on Sale of Asset 5000 Pension Contribution 7500 Other: Dividends 13800 Cash Rec'd From Sale of Assets 35000 Basis of Assets Sold 30000 PREPARE A PERFECT CASH FLOW STATEMENT

Answer 1

See answer and explanation below.

Step-by-step explanation:

Course Hero

Cash Flow Statement for 2021

Details $ $

Net income 20,100

Depreciation expenses 7,500

Gain on Sale of Asset (5,000)

Net cash from operating activities 22,600

Cash flows from investing activities:

Cash Rec'd From Sale of Assets 35,000

Net cash flows from Investing activities 35,000

Cash flows from financing activities:

Dividends (13,800)

Net cash from financing activities 13,800

Increase / (Decrease) in cash 43,800