Essay
During 2014, Wimbrow Images reported $60,000 of net income and generated $80,000 of cash from operations.
During the year, Wimbrow Images paid $15,000 to purchase a new delivery truck and also paid dividends in the amount of $30,000. Wimbrow Images borrowed $40,000 cash from the bank. At the beginning of the year, cash amounted to $50,000.
A Prepare a statement of cash flows for the year ended December 31, 2014.
B How much more cash does Wimbrow Images have available at the end of the year than at the beginning?
C Why is there a difference between net income and cash flows from operations?
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Wimbrow Images Statement of Cash Flows...View Answer
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Correct Answer:
Verified
Wimbrow Images Statement of Cash Flows...
View Answer
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