Please answer the following questions based on attached image: 1. What is the cash flow from Operating Activities? 2. What is the cash flow from Financing Activities? 3. What is the cash flow from Investing Activities?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please answer the following questions based on attached image:

1. What is the cash flow from Operating Activities?

2. What is the cash flow from Financing Activities?

3. What is the cash flow from Investing Activities?

The comparative financial statements of Westin Corp. are presented below;
Balance Sheet as of December 31
Cash
Accounts Receivable
Equipment
Accumulated Depreciation-Equipment
Total Assets
Accounts Payable
Salaries and Wages Payable
Income Tax Payable
Notes Payable (long-term)
Common Stock
Retained Earnings
Total Liabilities and Stockholders' Equity
Income Statement for the year ended December 31,
Service Revenue
Salaries and Wages Expense
Depreciation Expense
Other Operating Expenses
Income Tax Expense
Net Income
$
$
$
$
$
2022
20,250 $
3,750 $
16,500 $
(4,500) $
36,000 $
102,000
750
500
3,000
1,500 $
3,000
1,500
2,250
1,000
2,500
4,500
1,500
15,000
15,000
12,500
4,250
36,000 $ 28,500
Additional information:
1. The company borrowed $3,000 cash from the bank
2. The company bought additional equipment worth $1,500 for cash
$
2021
$
12,000
5,250
15,000
(3,750)
28,500
2022
114,500
106,250
8,250
Transcribed Image Text:The comparative financial statements of Westin Corp. are presented below; Balance Sheet as of December 31 Cash Accounts Receivable Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Income Tax Payable Notes Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement for the year ended December 31, Service Revenue Salaries and Wages Expense Depreciation Expense Other Operating Expenses Income Tax Expense Net Income $ $ $ $ $ 2022 20,250 $ 3,750 $ 16,500 $ (4,500) $ 36,000 $ 102,000 750 500 3,000 1,500 $ 3,000 1,500 2,250 1,000 2,500 4,500 1,500 15,000 15,000 12,500 4,250 36,000 $ 28,500 Additional information: 1. The company borrowed $3,000 cash from the bank 2. The company bought additional equipment worth $1,500 for cash $ 2021 $ 12,000 5,250 15,000 (3,750) 28,500 2022 114,500 106,250 8,250
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