(Solution) - Using financial statements to prepare a statement of -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

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Using financial statements to prepare a statement of cash flows?Direct method The following financial statements were drawn from the records of Raceway Sports:

Additional Information
1. Sold equipment costing $108,000 with accumulated depreciation of $84,000 for $22,200 cash.
2. Paid a $13,600 cash dividend to owners.
Required
Analyze the data and prepare a statement of cash flows using the direct method.