Use the Indirect Method of Preparing a Statement of Cash

question 135

Short Answer

Use the indirect method of preparing a statement of cash flows to answer the question.
Ending balances for Sunday Hut are listed below:
Net income for this year was $97,000 and dividends of $24,000 were declared and paid this year.
What was the net cash used for investing activities?

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Definitions:

Risk Of Loss

A legal term describing the responsibility for the loss or damage of goods, typically shifting from seller to buyer at a predetermined point in the transaction process.

Remedies

Legal means through which a right is enforced or the violation of a right is prevented, redressed, or compensated.

Defect

A flaw or imperfection in a product or system that causes it to be unsafe, ineffective, or fails to meet specified criteria.

Consigned Goods

Items that are given to a third party (consignee) to sell, where the original owner (consignor) retains ownership until the goods are sold.