The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2014 are as follows.
|
CONSTANTINE CAVAMANLIS INC.
BALANCE SHEETS
|
|
|
Dec. 31, 2014
|
|
Jan. 1, 2014
|
|
Inc./Dec.
|
| Assets |
|
|
|
|
|
|
|
| Cash |
|
$ 48,050 |
|
$ 14,170 |
|
$33,880 |
Inc. |
| Accounts receivable |
|
95,220 |
|
89,170 |
|
6,050 |
Inc. |
| Equipment |
|
43,220 |
|
23,170 |
|
20,050 |
Inc. |
| Less: Accumulated Depreciation-Equipment |
|
18,170 |
|
12,170 |
|
6,000 |
Inc. |
| Total |
|
$168,320 |
|
$114,340 |
|
|
|
| Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
| Accounts payable |
|
$ 24,220 |
|
$ 16,170 |
|
8,050 |
Inc. |
| Common stock |
|
103,050 |
|
81,170 |
|
21,880 |
Inc. |
| Retained earnings |
|
41,050 |
|
17,000 |
|
24,050 |
Inc. |
| Total |
|
$168,320 |
|
$114,340 |
|
|
|
Net income of $48,220 was reported, and dividends of $24,170 were paid in 2014. New equipment was purchased and none was sold.
Prepare a statement of cash flows for the year 2014. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Constantine Cavamanlis Inc.
Statement of Cash Flows
For the Year Ended December 31, 2014