Question

The following items involve the cash flow activities of Prizzie Company for 2020: Net income $162,000...

The following items involve the cash flow activities of Prizzie Company for 2020:

Net income $162,000
Payment of dividends 25,000
1,000 shares of stock issued at $20 par 20,000
Amortization expense on patents 7,000
Plant assets acquired at a cost of 75,000
Accounts receivable increase of 9,000
Accounts payable decrease of 10,000
Salaries payable increase of 6,500
Beginning cash balance 18,000

Required:

Prepare the statement of cash flows of Prizzie Company for 2020 using the indirect method.
Labels
Financing Activities
Investing Activities
Operating Activities
Amount Descriptions
Amortization expense
Cash, January 1, 2020
Cash, December 31, 2020
Decrease in accounts payable
Increase in salaries payable
Increase in accounts receivable
Net income
Net loss
Net increase in cash
Net decrease in cash
Net cash provided by operating activities
Net cash provided by financing activities
Net cash used for operating activities
Net cash used for financing activities
Payment for purchase of plant assets
Payment of dividends
Proceeds from issuance of common stock
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