Based on the Information Provided Below,complete the Following Worksheet to Be

Essay

Based on the information provided below,complete the following worksheet to be used to prepare the statement of cash flows for the Gulp-it-Down Coffee Co. Additional Information:
(1. )Net income for the year amounted to $60,000,and cash dividends were declared and paid in the amount of $20,000.
(2. )Gulp-it-Down Coffee Co.'s only noncash expense was depreciation that totaled $100,000.
(3. )The company purchased plant assets for $140,000.
(4. )Notes payable in the amount of $60,000 were issued during the year.