Preparing Financial Reports: Argem loved everything that involves computers so she decided to open a small Internet cafe upon the encouragement of her family and friends. After a year's operations she...

Solve for its Cash Flows Statement

Extracted text: Preparing Financial Reports: Argem loved everything that involves computers so she decided to open a small Internet cafe upon the encouragement of her family and friends. After a year's operations she wanted to know how much she earned and what is the financial status of the business. The ff. Are the summarized data based on the various receipts and records she meticulously kept: Account Titles Amount P 12,250 8,000 5,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment 33,000 5,000 90,000 2,000 Cash Depreciation Expense Equipment (includes all computers in the Internet cafe) Interest Income (interest earned from cash deposited in the bank) Miscellaneous Expense (disbursements too small to be classified as independent 5,000 expense account) Notes Payable 12,000 10,000 4,300 5,000 92,050 10,000 10,000 4,000 20,000 88,000 7,000 Notes Receivable Office Supplies Prepaid Rent Argem, Capital (initial investment) Argem, Personal withdrawals Rent Expense Repairs and Maintenance Expense Salaries Expense Service Income (total revenues earned by the Internet cafe) Supplies Expense