Question

Required information [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 60,000 37,800 121,400 102,000 137,500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid Rent Office Expense Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable 151,700 11,600 31,000 18,700 38,800 8,500 15,800 13,800 37,200 167,800 26,600 23,000 Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers $ 36,000 41,300 12,500 67,400 101,200 167,000

Answer 1

NICE BITE INC

Statement of cash flows

For the year ended December 31,2016

Cash flow from operating activities
Cash received from customer	167000
cash paid to suppliers and employees	-101200
Cash paid for income taxes	-12500
Net cash flow from operating activities		53300
Cash flow from investing activities
Cash paid for purchase of long term assets		-67400
Cash flow from financing activities
Cash from issue common Stock	36000
Cash paid for required common stock	-41300
Net cash used in financing activities		-5300
Net cash flow		-19400
Beginning cash		121400
Ending Cash		102000