Question: Complete the following spreadsheet in preparation of the statement of cash flows(CF). (The statement of cash flows is not required.) Prepare the spreadsheet as in Exhibit; report operating activities under the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following transactions a through e.
a. Net income for the year was $30,000.
b. Dividends of $10,000 cash were declared and paid.
c. Stylish's only noncash expense was $50,000 of depreciation.
d. The company purchased plant assets for $70,000 cash.
e. Notes payable of $40,000 were issued for $40,000 cash.
