1.
Cash Flow Statement | ||||
Direct Method | ||||
Cash Flow from Operating Activities | ||||
Cash collected from customers | $ 8,446,000 | =8454000+463000-471000 | ||
Cash paid for Inventory | $ -6,495,000 | =-(6490000+213000-178000+570000-600000) | ||
Cash paid for Operating Expenses | $ -1,325,000 | =-(1305000+70000-50000) | ||
Cash paid for Interest | $ -6,000 | =-(24000+0-18000) | ||
Cash paid for Income tax expense | $ -165,000 | =-(161000+14000-10000) | ||
Cash used in Operating Activities | $ 455,000 | |||
Cash flow from Investing Activities | ||||
Sale of Equipment | $ 370,000 | =280000+90000 | ||
Purchase of Equipment | $ -525,000 | =-(3105000-(3300000-720000)) | ||
Net cash used In investing activities | $ -155,000 | |||
Cash flow from Financing Activities | ||||
Repaid Notes Payable | $ -50,000 | =150000-200000 | ||
Dividend Paid | $ -172,000 | =-(425000+244000-497000) | ||
Net cash used in financing activities | $ -222,000 | |||
Increase in Cash | $ 78,000 | |||
Opening Balance of Cash | $ 191,000 | |||
Closing Balance of Cash | $ 269,000 |
2.
Cash Flow Statement | ||||
Indirect Method | ||||
Cash Flow from Operating Activities | ||||
Net Income | $ 244,000 | |||
Adjustments | ||||
Depreciation | $ 320,000 | |||
Gain on sale of Equipment | $ -90,000 | |||
Changes in Current Assets/ Current Liabilities | ||||
Increase in Accounts Receivable | $ -8,000 | =463000-471000 | ||
Increase in Prepaid Expenses | $ -20,000 | =50000-70000 | ||
Decrease in Inventory | $ 30,000 | =600000-570000 | ||
Decrease in Accounts Payable | $ -35,000 | =178000-213000 | ||
Increase in Interest Payable | $ 18,000 | =18000-0 | ||
Decrease in Income tax payable | $ -4,000 | =10000-14000 | ||
Total Adjustments | $ 211,000 | |||
Cash from Operating Activities | $ 455,000 |
3.
Cash from Operating Activities will remain same
Cash from Investing activities will change by $525000, Net cash
from investing activities = $370000
Cash from Financing Activities will remain same
Non Cash financing and investing activities will be
disclosed
Purchase of Equipment by issue of common stock $525000
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