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Prepare direct method statement of cash flows

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Reference no: EM13533101

Preparing the direct method statement of cash flows

Jelly Bean, Inc., began 2012 with cash of $53,000. During the year Jelly Bean earned revenue of $597,000 and collected $621,000 from customers. Expenses for the year totaled $437,000, of which Jelly Bean paid $427,000 in cash to suppliers and employees. Jelly Bean also paid $145,000 to purchase equipment and a cash dividend of $54,000 to its stockholders during 2012.

Requirement

Prepare the company's statement of cash flows for the year ended December 31, 2012. Format operating activities by the direct method.

Reference no: EM13533101

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