The following information is for Redwood Ltd for the year ended December 31, 2013. Redwood...
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Accounting
The following information is for Redwood Ltd for the year ended December 31, 2013. Redwood had a cash and cash equivalents balance of $5,200 on January 1, 2013. Cash received from: Customers Interest on investments Sale of land Issuance of ordinary shares Issuance of debt securities $1,900 200 100 600 2,000 Cash paid for: Interest on debt $ 300 Income tax 80 Debt principal reduction 1,500 Purchase of equipment Purchase of inventory 1,000 Dividends on ordinary shares 200 Operating expenses 500 Required: Prepare a statement of cash flows for the year using the direct method for operating activities. Assume that interest received is classified as an investing cash flow and interest and dividends paid are classified as financing cash flows
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