Based on the Information Provided Below,complete the Following Worksheet to Be

question 168

Essay

Based on the information provided below,complete the following worksheet to be used to prepare the statement of cash flows:
(a)Net income for the year was $30,000.
(b)Dividends of $10,000 were declared and paid.
(c)Stylish's only noncash expense was depreciation,which totaled $50,000.
(d)The company purchased plant assets for $70,000.
(e)Notes payable in the amount of $40,000 were issued during the year for cash.
(f)Merchandise inventory increased $30,000.
(g)Accounts payable decreased $10,000,