Patterson,Inc

question 63

Essay

Patterson,Inc.,has the following comparative balance sheets and income statement available for your examination:


Additional information:
1.Fully depreciated equipment costing $6,000 was abandoned on the first day of business of 2014.
2.A building to store materials was acquired for $26,000.
3.A stock dividend of $20,000 was declared and distributed,as was a cash dividend of $8,000.
4.Additional stock was sold during 2014 for cash.
Prepare a statement of cash flows for Patterson,Inc.,for 2014 employing the indirect
method of identifying cash flows from operating activities.

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Definitions:

Cell Phone

A portable electronic device that combines mobile telephone and computing functions.

Car Radio

An electronic device installed in vehicles for receiving radio signals, enabling the listening of music, news, and other audio while driving.

Vehicle Conversation

Dialogues or discussions that occur between passengers or between a driver and passengers within a vehicle.

Blindsight

A condition in which a person can respond to visual stimuli without consciously perceiving them due to damage in the visual cortex.