The following transactions occurred in the Hubris Corporation during the year ended December 31, 2017.
|
a. |
Net income |
$800 |
|
b. |
Depreciation expense |
120 |
|
c. |
Increase in wages payable |
20 |
|
d. |
Increase in accounts receivable |
40 |
|
e. |
Decrease in merchandize inventory |
50 |
|
f. |
Amortization of patents |
5 |
|
g. |
Payment of non- current borrowings |
250 |
|
h. |
Issuance of common shares for cash |
500 |
|
i.. |
Payment of cash dividends |
30 |
Other information: Cash at December 31, 2017 was $1,200.
Required:
- Prepare a cash flow table. The first two columns are not necessary. Enter amounts above in the “Change” columns. (Hint: the change to cash is the balancing figure in the “Change” columns – $1,175.)
- Prepare a statement of cash flows.
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