Jelly Bean, Inc. began 2014 with cash of $ 53,000.
Jelly Bean, Inc. began 2014 with cash of $ 53,000. During the year, Jelly Bean earned revenue of $ 597,000 and collected $ 621,000 from customers. Expenses for the year totaled $ 437,000, of which Jelly Bean paid $ 227,000 in cash to suppliers and $ 200,000 in cash to employees. Jelly Bean also paid $ 145,000 to purchase equipment and a cash dividend of $ 54,000 to its stockholders during 2014. ,Prepare the company’s statement of cash flows for the year ended December 31, 2014. Format operating activities by the direct method.
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