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Complete the cash flow statement using the indirect method on the template provided.

Complete the cash flow statement using the indirect method on the template provided.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Financial Analysis for Decision Making 1. Below is information for ICY Corporation: Service Revenue Operating expenses Net income Cash ICY Company Income Statement For the year ended December 31, 2021 Accounts receivable Total current assets Balance Sheet At December 31, 2021 and 2020 Assets $ 100,000 90.000 10,000 2021 $ 5,000 10,000 15,000 2020 $ 2,000 3.000 5,000
Transcribed Image Text:Financial Analysis for Decision Making 1. Below is information for ICY Corporation: Service Revenue Operating expenses Net income Cash ICY Company Income Statement For the year ended December 31, 2021 Accounts receivable Total current assets Balance Sheet At December 31, 2021 and 2020 Assets $ 100,000 90.000 10,000 2021 $ 5,000 10,000 15,000 2020 $ 2,000 3.000 5,000
Land Total assets Notes payable Total Liabilities Liabilities Stockholders' Equity Common stock Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 2021 Events: a) Purchased land for $10,000 cash b) Borrowed $10,000 on a long-term notes payable 30.000 $ 45,000 10.000 10,000 15.000 20.000 $25,000 35.000 $45,000 오 0 10 20,000 20,000 5.000 25.000 $ 25,000 Complete the cash flow statement using the indirect method on the template provided.
Transcribed Image Text:Land Total assets Notes payable Total Liabilities Liabilities Stockholders' Equity Common stock Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 2021 Events: a) Purchased land for $10,000 cash b) Borrowed $10,000 on a long-term notes payable 30.000 $ 45,000 10.000 10,000 15.000 20.000 $25,000 35.000 $45,000 오 0 10 20,000 20,000 5.000 25.000 $ 25,000 Complete the cash flow statement using the indirect method on the template provided.
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