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The following information relates to the Superior Incorporated for 2020: Gain on sale of land $...

The following information relates to the Superior Incorporated for 2020:

Gain on sale of land $ 800

Bond payable premium amortization 300

Decrease in accounts payable 700

Increase in prepaid expenses 100

Net income 9,400

Purchased equipment 15,000

Increase in salaries payable 400

Proceeds from sale of land 7,000

Decrease in inventories 2,100

Payment of dividends 1,600

Depreciation expense 1,000

Required: Prepare a partial statement of cash flow net cash provided by operating activities for the Windstar Incorporated Company for 2020.

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Answer #1
Statement of Cash Flows (Partial )
Particulars Amount
Cash Flows from Operating Activities
Net Income $9400
Adjustments to reconcile net income to Net Cash flows from Operating Activities
Depreciation Expense $1000
Gain On Sale of land ($800)
Decrease in accounts payable ($700)
Increase in prepaid expenses ($100)
Increase in salaries payable $400
Decrease in Inventories $2100
Amortization of bond premium ($300)
Net Cash flows from operating activities $11000
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