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STATEMENT OF CASH FLOWS:  REPORTING THE EFFECTS OF OPERATING, INVESTING, AND FINANCING ACTIVITIES ON CASH FLOWS   T4-X

4.27(Hale Company; preparing and interpreting a statement of cash flows using a T-account work sheet.)

a.HALE COMPANY

Statement of Cash Flows

For the Year

Operations:

Net Income$44,000

Additions:

Depreciation Expense54,000

Increase in Accounts Payable5,000

Subtractions:

Increase in Accounts Receivable(13,000)

Increase in Inventory(11,000)

Decrease in Interest Payable(2,000)

Cash Flow from Operations$77,000

Investing:

Sale of Equipment$5,000

Acquisition of Equipment(55,000)

Cash Flow from Investing(50,000)

Financing:

Dividends$(10,000)

Retirement of Portion of Mortgage Payable(11,000)

Cash Flow from Financing(21,000)

Net Change in Cash$6,000

Cash, January 152,000

Cash, December 31$58,000

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