(Answered) Statement of cash flowsarlington service company began the

Accounting

Statement of Cash Flows

Arlington Service Company began the year 2014 with cash of $55,900. In addition to earning a net income of $32,500 and making cash withdrawals of $19,500, Arlington Service borrowed $78,000 from the bank and purchased equipment with $117,000 of cash. Also, Accounts Receivable increased by $7,800, and Accounts Payable increased by $11,700.

Determine the amount of cash on hand at December 31, 2014, by preparing a state- ment of cash flows similar to the one in Exhibit.

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