Epsilon Retail Ltd.Scenario: Prepare a Cash Flow StatementData:Operating Activities:Net Income: $80,000Depreciation Expense: $20,000Increase in Accounts Receivable:...
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Accounting
Epsilon Retail Ltd.
Scenario: Prepare a Cash Flow Statement
Data:
- Operating Activities:
- Net Income: $80,000
- Depreciation Expense: $20,000
- Increase in Accounts Receivable: $10,000
- Investing Activities:
- Purchase of Equipment: $30,000
- Financing Activities:
- Issuance of Long-term Debt: $50,000
- Payment of Dividends: $10,000
Requirements:
- Prepare the statement of cash flows for the year ended December 31, 2023.
- Classify cash flows into operating, investing, and financing activities.
- Analyze the company’s cash position and liquidity based on the statement of cash flows.
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