Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information. Within each section of the statement, use the drop-down menus to enter the accounts. Then enter the account balances and calculate ending balances. Enter decreases in cash with a minus sign or parentheses.
Cash balance, December 1, 2016 is $18,600
Transactions
Dec. 1 Common stock was issued to stockholders for $7,900 cash.
7 Purchased equipment for $1,900 on account.
14 Paid $19,800 cash for land.
17 Paid cash expenses: office rent, $1,600; employees' salaries, $1,400; utilities, $70.
23 Paid cash dividends of $2,500.
26 Earned service revenue for the month, $4,900, receiving cash.
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