Question
I am preparing a statement of cash flows
below are the income statement, balance sheets for the current and previous year, and given info.

I have completed most of it but I am missing information somewhere. I have also included what I have so far.

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A = = Number Wrap Text E Merge & Center - E E $ % 8 Conditional Forma Formatting Table Alignment Number Styles 5 Scenic did n
Pra Puc 2012 Casi Pring Proc Scenic Industries, Inc. Balance Sheets For Years ended December 31, 2012 and 2013 Assets 2013 31
46 Taxes payable 47 Other accrued operating expenses 48 Total current liabilities 49 Bonds Payable 50 Total Liabilities 51 St
TUMMY Tule Style Alignment Number Styles Cells Enter the appropriate accounts/names and numbers in the yellow boxes- INDIRECT
Cash flows from investing activities: Proceeds from sale of equipment Puchase of long-term investments 15,100.00 (113,000.00
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Answer #1
Scenic Industries, Inc.
Statement of Cash Flows
For the Year Ended December 31, 2013
Cash Flows from Operating Activities
Net Income $183,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation Expense $4,900
Gain on Sale of Equipment -$4,400
Increase in Accounts Receivable -$3,000
Decrease in Inventory $7,300
Increase in Prepaid Insurance -$500
Decrease in Accounts Payable -$3,300
Decrease in Salaries Payable -$4,500
Increase in Interest Payable $2,400
Increase in Taxes Payable $5,300
Decrease in Other Accrued Operating Expense -$3,300
Net cash flows provided by operating activities $183,900
Cash Flows from Investing Activities
Purchase of Long-Term Investments -$113,000
Proceeds from Sale of Equipment $15,100
Purchase of Equipment -$29,700
Net cash flow used in investing activities -$127,600
Cash Flows from Financing Activities
Principal Payment on Bond Payable -$35,000
Proceeds from Issuance of Common Stock $30,000
Cash paid for Dividends -$24,800
Net cash flow used in financing activities -$29,800
Increase in cash $26,500
Cash balance, December 31, 2012 $23,500
Cash balance, December 31, 2013 $50,000
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