Texas Corporation had the following comparative balance sheet information for 2015 and 2016:
The company reported net income for 2016 of $40,000.No property,plant & equipment was disposed of during the year.Texas paid $16,000 in cash dividends during 2016.Texas uses the indirect method to prepare the statement of cash flows.
Required: Prepare Texas's Statement of Cash Flows for 2016.
Definitions:
Redemption
The process of paying off or buying back something, such as redeeming a bond at maturity or redeeming shares of stock.
Bonds Issued
This term refers to the process where an entity, such as a corporation or government, issues debt securities to raise funds from investors.
Cash Received
The total amount of cash received by a company during a specific period of time, from various sources.
Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return, often used in investment and financial decision-making.
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