A comparative statement of financial position for Mann Company appears below: Additional information:
1. Net income for the year ending December 31, 2014 was €33,000.
2. Cash dividends of €15,000 were declared and paid during the year.
3. Long-term investments that had a cost of €18,000 were sold for €14,000.
4. Sales for 2014 were €120,000.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirect method.

Question

A comparative statement of financial position for Mann Company appears below:  Additional information:
1. Net income for the year ending December 31, 2014 was €33,000.
2. Cash dividends of €15,000 were declared and paid during the year.
3. Long-term investments that had a cost of €18,000 were sold for €14,000.
4. Sales for 2014 were €120,000.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirect method.

Quizplus · Accepted Answer

The Answer of A comparative statement of financial position for Mann Company appears below:  Additional information:
1. Net income for the year ending December 31, 2014 was €33,000.
2. Cash dividends of €15,000 were declared and paid during the year.
3. Long-term investments that had a cost of €18,000 were sold for €14,000.
4. Sales for 2014 were €120,000.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirect method.

A Comparative Statement of Financial Position for Mann Company Appears