Business Cash Flows Calculations (Other (Not Listed) Sample)

mathematical calculations.REQUIRED:
a. Calculate the change in cash that occurred during 2020. This is your check figure.
b. Calculate the amount of dividends that were paid by reconciling the Retained Earnings Statement
Beginning R/E
+ Net Income
- Dividends
Ending R/E
Three of these numbers are found on the statements above and the only missing element is dividends
b. Prepare a 2020 statement of cash flow using the indirect method. Make sure
Follow the format of the statement that I showed you in this week’s outline.
Terry Company’s income statement and comparative balance sheets at December 31, 20120 and 2019, are as follows:
TERRY COMPANY
Income Statement
For Year Ended December 31, 2020
Sales revenue $385,000
Dividend income 5,000
--------------
390,000
Cost of goods sold $233,000
Wages expense 82,000
Advertising expense 10,000
Depreciation expense 11,000
Income tax expense 17,000
Loss on sale of investments 2,000 355,000
---------------- ---------------
Net income $ 35,000