Mary Kay Cosmetics Selected data and additional information from the company\'s

Question

Mary Kay Cosmetics

Selected data and additional information from the company's records are presented below:

Mary Kay Cosmetics

Statement of Cash Flows

For the year ended December 31, 2014

Cash Flows from Operating Activities:

  

  

Adjustments to net income:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Cash Flows from Investing activities:

  

  

  

  

  

  

Cash Flows from Financing activities:

  

  

  

  

  

  

Beginning Cash

  

Ending Cash

  

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e Problem 11-014

Mary Kay Cosmetics

Selected data and additional information from the company's records are presented below:

Balance Sheet Data 2014 2013 Cash $235,000 $246,000 Accounts receivable 120,000 150,000 Inventories 56,000 50,000 Accounts payable 38,000 70,000 Salaries payable 10,000 5,000 Equipment 110,000 70,000 Accumulated depreciation 28,000 32,000 Bonds payable 100,000 200,000 Common stock 300,000 200,000 Retained earnings 76,000 40,000 Income Statement Data 2014 Net sales $920,000 Cost of goods sold 700,000 Operating expenses (excluding depreciation expense) 160,000 Net income (Includes depreciation expense and gain) 56,000 Gain on sale of equipment 4,000































Additional information: 1. Equipment with a cost of $30,000 and a book value of $18,000 was sold for $22,000 during 2014. 2. Common stock was issued to retire bonds payable during 2014. 3. The only items affecting retained earnings in 2014 were net income and dividends declared and paid.

Explanation / Answer

Mary Kay Cosmetics

Statement of Cash Flows

For the year ended December 31, 2014

Mary Kay Cosmetics

Statement of Cash Flows

For the year ended December 31, 2014

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