Prepare the financing section of the statement of cash flows forthe year ended December 31, 2018.
13) Dakota Telescopes Company uses the indirect method toprepare the statement of cash flows. Refer to the following incomestatement:
Dakota Telescopes Company
Income Statement
Year Ended December 31, 2019
SalesRevenue $275,000
InterestRevenue 2,600
TotalRevenues $277,600
Cost of GoodsSold 135,000
SalaryExpense 66,500
DepreciationExpense 32,000
Other OperatingExpenses 35,900
InterestExpense 2,400
Income TaxExpense 6,500
Loss on Sale of PlantAssets 2,000
Total Expenses andLosses 280,300
NetLoss ($2,700)
Additional information provided by the company includes thefollowing:
Current assets other than cash decreased by $25,000.
Current liabilities increased by $3,000.
Prepare the operating activities section of the statement ofcash flows.
