(Solution) - Lucky Inc began 2010 with 87 000 in cash During 2010 -(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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Lucky, Inc., began 2010 with $87,000 in cash. During 2010, Lucky earned net income of $410,000, and adjustments to reconcile net income to net cash provided by operations totaled $70,000, a positive amount. Investing activities used cash of $420,000, and financing activities provided cash of $72,000. Lucky ended 2010 with total assets of $260,000 and total liabilities of $115,000.

Requirement
1. Prepare Lucky, Inc.?s statement of cash flows for the year ended December 31, 2010. Identify the data items given that do not appear on the statement of cash flows. Also identify the financial statement that reports the unused items.