Jones Clothing Store presented the following statement of cash flows for the year ended December...
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Accounting
Jones Clothing Store presented the following statement of cash flows for the year ended December 31, 2012.
| Jones Clothing Store Statement of Cash Flows For the Year Ended December 31, 2012 | |
|
| |
| Cash received: |
|
| From sales to customers | $200,000 |
| Interest income | 10,000 |
| Loans from banks | 50,000 |
| From sale of property, plant, and equipment | 100,000 |
| From issuance of common stock | 150,000 |
| From issuance of bonds | 100,000 |
| Total cash received | $610,000 |
| Cash payments: |
|
| For dividends | $ 20,000 |
| For purchase of stock of another company | 150,000 |
| For purchase of equipment | 200,000 |
| For acquisition of inventory | 80,000 |
| To employees | 60,000 |
| Total cash payments | $510,000 |
| Net increase in cash | $100,000 |
Required:
| a. | Prepare a statement of cash flows in proper form. |
| b. | Comment on the major flows of cash |
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