The following information is for Edgewood Inc. for the year ended December 31, 2021. Edgewood had a balance for cash and cash equivalents of $5,200 on January 1, 2021.
Cash received from:
Customers $1,900
Interest on investments 200
Sale of land 100
Issuance of common stock 600
Issuance of debt securities 2,000
Cash paid for: Interest on debt $300
Income tax 80
Debt principal reduction 1,500
Purchase of equipment 4,100
Purchase of inventory 1,000
Dividends on common stock 200
Operating expenses 500
Required:
Prepare a statement of cash flows for the year. Make sure you have proper headings, columns, subtotals and totals.
Answers: 1
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The following information is for Edgewood Inc. for the year ended December 31, 2021. Edgewood had a...
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