Solution-Prepare the operating cash flow section of a

Prepare the operating cash flow section of a statement

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Reference no: EM131790871

Assignment

Condensed financial data of Belt Corp. for 2014 and 2013 arc resented below.

FULTON CORP. Competitive Balance Sheet As or December 31
	2014	2013
Cash	$ 800	$ 600
Investments	-0-	200
Receivables	2,250	2.100
Inventory	1,600	1200
Plant assets	1,600	1,200
Accumulated Depreciation	600	(455)
	$5,650	$4,845
Accounts payable	$ 750	$1,200
Accrued liabilities	330	520
Bonds payable	800	1,000
Capital stock	1,600	1,400
Retained earrings	2,270	725
	$5,650	$4 ,845

FULTON CORP. Income Statement Foe the Year Ended December 31, 2014
Sales	$15,200
Cost of goods sold	10,400
Gross margin	4,600
Selling and administrative expense	1,205
Income from operations	3,595
Other ravenous and gains Loss on Sale or investments	50
Income before income tax	3,545
Income ltx expense	1.400
Net income	2,145
Cash dividends	600
Income retained in business	$ 1,545

Additional information:

During the year, $100 common stock was issued in exchange for land. No plant assets were sold in 2014.

Instructions:

Prepare the operating cash flow section of a statement of cash flow using both the indirect method and the direct method.

Reference no: EM131790871

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Prepare the operating cash flow section of a statement

Reference no: EM131790871

Reference no: EM131790871

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