On the Basis of the Following Data for Breach Co

question 74

Essay

On the basis of the following data for Breach Co. for the year ended December 31, 2011 and the preceding year, prepare a statement of cash flows using the indirect method of reporting cash flows from operating activities.
Assume that equipment costing $25,000 was purchased for cash and no long term assets were sold during the period.
Stock was issued for cash - 3,200 shares at par.
Net income for 2010 was $76,000.
Cash dividends declared and paid were $13,000.

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Definitions:

Hydrologic Cycle

The continuous movement of water on, above, and below the surface of the Earth, involving processes such as evaporation, condensation, precipitation, and infiltration.

Primary Drivers

The main factors or forces that cause a particular outcome or condition.

Solar Energy

Power obtained by harnessing the energy of the sun's rays, considered a clean and renewable source of energy.

Condensation Nuclei

Tiny particles in the atmosphere on which water vapor condenses to form clouds and precipitation.