Gordon Company’s accounting records provided the following changes in account balances and other information for 2019:

Additional information: Net income totaled $5,800. Dividends were declared and paid. Equipment was purchased for $8,800. No buildings and equipment were sold during the year. One hundred shares of common stock were sold for $55 per share. The ending cash balance was $4,200.

Required:
Using visual inspection, prepare a 2019 statement of cash flows for Gordon.

Transcribed Image Text:

Net Changes for 2019 Debit Credit $ 1,000 Cash $ 1,100 Accounts Receivable Inventory Buildings and Equipment Accumulated Depreciation Accounts Payable Common Stock, no par Retained Earnings 2,000 8,800 2,900 900 5,500 3,200 $12,700 $12,700