Analyzing the same company, based on the additional information (attached) please use the information below to make a statement of cash flows.
– The beginning cash balance is $16,700.
– Use the Net Income from Sect 2.
– Use depreciation expense of Sect 2.
– During the year 12, Inventory increases by $42,500.
– During the year 12, Land increases by $400,000.
– During the year 12, Long-Term Debts increase by $350,000.
– During the year 12, the company made a secondary offering of stock and raised an additional $150,000.
– During the year 12, the company had paid $15,000 in dividends.
Using the Indirect Method, prepare a statement of cash flows for the company in good format and compare two financial statements between the income statement and statement of cash flows. Create a statement of cash flows and compare cash flows with net income.