Essay
Tradewinds Corporation was organized on January 1,2017,with the investment of $500,000 in cash by its stockholders.Tradewinds signed a ten-year,$300,000 promissory note at a local bank during 2017 and received cash in the same amount.The company immediately purchased an office building for $800,000,paying in cash.During its first year,Tradewinds generated $35,000 in cash from operations and paid $30,000 in cash dividends.
A)In good form,prepare a statement of cash flows for the year ended December 31,2017.
B)What does this statement tell you that an income statement does not?
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B)This statement provides informa...View Answer
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