I Can Make It Corporation had net income of $141,000 for the year. Operating activities provided $109,000 in cash flow after accounting for changes in accounts receivable, accounts payable, inventory, notes payable, and taxes payable. Investing activities used $150,000 for purchases of land and equipment. Financing activities provided $513,000 after $57,000 was paid in dividends and $570,000 was received from issuing share capital. The overall increase in cash for the year was $622,000.
I Can Make It Corporation had net income of $141,000 for the year. Operating activities provided $109,000 in cash flow after accounting for changes in accounts receivable, accounts payable, inventory, notes payable, and taxes payable. Investing activities used $150,000 for purchases of land and equipment. Financing activities provided $513,000 after $57,000 was paid in dividends and $570,000 was received from issuing share capital. The overall increase in cash for the year was $622,000.
I Can Make It Corporation had net income of $141,000 for the year. Operating activities provided $109,000 in cash flow after accounting for changes in accounts receivable, accounts payable, inventory, notes payable, and taxes payable. Investing activities used $150,000 for purchases of land and equipment. Financing activities provided $513,000 after $57,000 was paid in dividends and $570,000 was received from issuing share capital. The overall increase in cash for the year was $622,000.
Net income 141,000 increase in accounts receivable -20,000 decrease in accounts payable -26,000 decrease in merchandise inventory 15,000 decrease in notes payable -15,000 increase in taxes payable 14,000
net cash provided by operating activities 109,000
cash flows from investing activities
purchase of land 100,000 purchase of store equipment 50,000
cash flows from financing activities:
dividends paid -57,000 proceeds from issuance of share capital 570,000 net cash provided in financing activities 513,000