2. Prepare a statement of cash flows for the year using the DIRECT METHOD? (2.5 marks) 5. Bonds with a tace value of ( $ 40,000 ) were converted into ( $ 40,000 ) of common stock. 4. A cash dividend of ( $ 15,000 ) was declared and paid during the year. 5. Accounts payable pertain to merchandise purchases.

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2. Prepare a statement of cash flows for the year using the DIRECT METHOD? (2.5 marks) 5. Bonds with a tace value of  (  $ 40,000  ) were converted into  (  $ 40,000  ) of common stock. 4. A cash dividend of  (  $ 15,000  ) was declared and paid during the year. 5. Accounts payable pertain to merchandise purchases.

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