The Apex Motor Company documented the following information related to their 2015 financial performance. Create a...
The Apex Motor Company documented the following information related to their 2015 financial performance. Create a Statement of Cash Flows from the information provided.
- The company Board of Directors declared a cash dividend of $42,500, the 15th year in a row that dividends have increased.
- The company experienced an increase in net income of 6.5% and ended the year with $180,360 in Net Income.
- The company purchased more capital equipment during the year: one machine cost $28,000 and the other machine cost $38,750.
- Depreciation on machines and equipment was $30,000
- Changes in Working Capital were $32,500
- Short-term borrowing was $30,000.
Homework Answers
Answer:
Statement of Cash flow:
Purchase of capital equipment (2 machines) = $28,000 + $38,750 = $66,750
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The Apex Motor Company documented the following information related to their 2015 financial performance. Create a...
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