Sharp Screen Films, Incorporated, is developing its annual financial statements at December current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows:
tableBalance sheet at December Current Year Prior Year,Cash$$Accounts receivable,Merchandise inventory,Property and equipment,Less: Accumulated depreciation,Accounts payable,$$Wages payable,$$Note payable, longterm,Common stock and additional paidin capital,Retained earnings,Income statement for current year,$$SalesCost of goods sold,$Depreciation expense,Other expenses,Net income,
Additional Data:
a Bought equipment for cash, $
b Paid $ on the longterm note payable.
c Issued new shares of stock for $ cash.
d Dividends of $ were declared and paid.
e Other expenses all relate to wages.
f Accounts payable includes only inventory purchases made on credit.
tableStatement of Cash FlowsFor the Year Ended December Current YearCash flows from operating activities:Net income,$vvtableAdjustments to reconcile net income to net cash providedby operating activities:Depreciation expense, $Decrease in accounts receivable,theta vvIncrease in merchandise inventory,theta Decrease in accounts payable,vvDecrease in wages payable,OvvNet cash provided by operating activities,Cash flows from investing activities:Cash payments to purchase property antheta vvCash flows from financing activities:Cash payments on longterm note,OvvCash payments for dividends,theta vvCash receipts from issuing stock,theta vvNet cash provided by financing activities,Net increase in cash during the year,theta Cash balance, January current year,OvvCash balance, December current year,theta $
What am I missing?
