During 2014,Belladonna Corp.had outstanding 125,000 shares of common stock and 7,500 shares of noncumulative,8 percent,$50 par preferred stock.Each preferred share is convertible into 8 shares of common stock.In 2014,net income was $231,500.
Definitions:
Indirect Method
A method for preparing the cash flow statement where net income is adjusted for non-cash transactions, deferred income, and changes in working capital to compute net cash from operating activities.
Statement Of Cash Flows
A financial report summarizing the amount of cash and cash equivalents entering and leaving a company.
Book Value
The net value of a company's assets as recorded on its balance sheet, minus its liabilities and intangible assets, such as goodwill.
Indirect Method
A cash flow statement reporting approach that adjusts net income for changes in balance sheet accounts to calculate cash from operating activities.
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