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(Solved): Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for ...
Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided Additional information fram the accounting recards
Additional information from the accounting records a. Annual payments of $20,000 on the finance lease liability are paid each January 1 , beginning in 2024 b. During 2024, equipment with a cost of $540,000 (90\% depreciated) was sold c. The statement of shareholders' equity reveals reductions of $215,000 and $380,000 for stock dividends and cash dividends. respectively Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operating activities by the direct method Note: Enter your answers in thousands (i.e., 10,000 should be entered as 10 ). Amounts to be deducted should be indicated with a minus sign.
\begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ METAGROBOLIZE INDUSTRIES } \\ \hline \multicolumn{1}{|c|}{ Statement of Cash Flows } & \\ \hline \multicolumn{1}{|c|}{ For the year ended December 31,2024} \\ \hline Cash flows from operating activities: & & \\ \hline Cash inflows: & & \\ \hline From customers & & \\ \hline & & \\ \hline Noncash investing and financing activities & & \\ \hline Cash outflows: & & \\ \hline To suppliers of goods & & \\ \hline For operating expenses & & \\ \hline & & \\ \hline Nash balance, January 1 & \\ \hline Cash flows from investing activities & & \\ \hline Purchase of equipment & & \\ \hline Sale of land & & \\ \hline Pash flows from financing activities: & & \\ \hline Payment on lease liability & \\ \hline Payment of dividends & & \\ \hline & & \\ \hline \end{tabular}
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operating activities by the direct method.