Please help me with this problem asap. Thanks! Santana Rey, owner of Business Sc

Question

Please help me with this problem asap. Thanks!

Santana Rey, owner of Business Sclutions, decides to prepare statement of cash flows for ner business lthough the serial problem allowed fcr nous ownership Changes ", earlier chapters, wil prepare The sterement of cash flews using the folloning financial lata) Fox Thrae Months Ended March 31,2016 brvics revenue Total revenue Cost of goods sold $14,552 Depreciation expense-Computer 1240 iages expense Insurance expense Rent expense Computer sppexense Advrting axpans Mileage expense Total expenses 24,507 Net income $19293

Explanation / Answer

Statement of Cash Flows For The quarter Ended March 31,2016 Cash flows from operating activities $ Net Income           19,293.00 Adjustments for: Depreciation             1,570.00 Amortization of patents Gain on sale of Investment Loss on the sale of property, plant & equipment Working capital changes: (Increase) / Decrease in trade and other receivables         (19,099.00) (Incresae) in computer supplies           (1,505.00) Decrease in Prepaid Insurance                545.00 (Increase) / Decrease in inventories              (614.00) Increase / (Decrease) in accrued liabilities                375.00 (Decrease) in Unearned Computer Service revenue           (1,800.00) Increase / (Decrease) in trade payables           (1,100.00) Cash generated from operations           (2,335.00) Net cash from operating activities           (2,355.00) Net cash used in investing activities                      -   Cash flows from financing activities Issue of Stock           33,000.00 Payment of Dividend           (4,300.00) Net cash used in financing activities          28,700.00 Net increase in cash and cash equivalents         26,345.00 Cash and cash equivalents at beginning of period         52,262.00 Cash and cash equivalents at end of period         78,627.00

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