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Colorado Corporation was organized on January 1, 2012, with the investment of $250

Colorado Corporation was organized on January 1, 2012, with the investment of $250

Colorado Corporation was organized on January 1, 2012, with the investment of $250,000 in cash by its stockholders. The company immediately purchased an office
building for $300,000, paying $210,000 in cash and signing a three-year promissory note for the balance. Colorado signed a five-year, $60,000 promissory note at a
local bank during 2012 and received cash in the same amount. During its first year, Colorado collected $93,970 from its customers. It paid $65,600 for inventory,
$20,400 in salaries and wages, and another $3,100 in taxes. Colorado paid $5,600 in cash dividends. Q:Prepare a statement of cash flows for the year ended December
31, 2012. If an amount is zero, enter “0”. Use the minus sign to indicate cash out flows and a decrease in cash or cash payments

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