• Had performed 25 percent of the services for which it had been paid in advance.
• Owes $1 for interest that will be paid next month.
• Depreciated equipment in the amount of $4.
• Physical count of supplies reveals $3 on hand.
• Declared and paid a cash dividend in the amount of 50 percent of January's net income.
REQUIRED:
Prepare a complete set of financial statements as of January 31, 2012, and prepare the statement of cash flows under the direct and the indirect (Appendix 4A) method.