Jenna and Matt Wilder are completing their second year operating
Jenna and Matt Wilder are completing their second year operating Mountain High, a downhill ski area and resort. Mountain High reports a net loss of $(10,000) for its second year, which includes an $85,000 extraordinary loss from fire. This past year also involved major purchases of plant assets for renovation and expansion, yielding a year-end total asset amount of $800,000. Mountain High’s net cash outflow for its second year is $(5,000); a summarized version of its statement of cash flows follows:,Net cash flow provided by operating activities . . . . . . . $295,000,Net cash flow used by investing activities . . . . . . . . . . . (310,000),Net cash flow provided by financing activities . . . . . . . . 10,000,Required,Write a one-page memorandum to the Wilders evaluating Mountain High’s current performance and assessing its future. Give special emphasis to cash flow data and their interpretation.
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