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Information for Keewatin Inc for 2013 Was as Follows

question 39

Essay

Information for Keewatin Inc for 2013 was as follows:
a) On December 31, sold a piece of equipment with a carrying value of $75,000 for $80,000 cash resulting in a
$5,000 loss.
b) Amortization expense for the year was $120,000.c) On June 30, issued 10% bonds for $500,000.
d) December 31, paid $25,000 for six months interest expense on the bonds.e) Paid $10,000 on a long-term note payable.
f) Bought shares in another company for $200,000.g) Inventory increased $25,000 over the year.
h) The company incurred a loss for the year of $115,000.
i) The company paid dividends of $30,000 during the year.
j) Over the year the company increased its overdraft at the bank $15,500.
Required:
A) What was the cash flow from operations for Keewatin for 2013? Show calculations.
B) What was the cash flow from investing activities for Keewatin for 2013? Show calculations.C) What was the cash flow from financing activities for Keewatin for 2013? Show calculations.

Definitions:

Misinformation Effect

The phenomenon where a person's recall of episodic memories becomes less accurate due to post-event information.

Retroactive Interference

A memory phenomenon where newly learned information interferes with the recall of previously learned information.

Proactive Interference

Proactive interference occurs when older information interferes with the recall of newer information.

Automatic Processing

Cognitive operations that occur without conscious awareness or effort, often quickly and efficiently.