Statement of Cash Flows-Little Bit, Inc.
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Complete problem 4.5 below. Refer to Exhibit 4.1 to create your statement of cash flows.
Submit the completed statement of cash flows and a 200- to 300-word analysis of the
statement.
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Solution Summary
The solution is the preparation of a statement of cash flows and a subsequent analysis for Little Bit, Inc.
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The statement of cash flows represents the $16,000 change in cash holdings demonstrated on the balance sheet (cash asset increased from $24,000 to $40,000). We had sales revenues of $155,000, but because accounts payable increased by $2,000, and cost of goods sold was $83,000 with a net $8500 increase in inventory, the actual cash inflows resulting from the sales revenues were reduced by these effects. There ...
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