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16. The financial statements of Juniper Company appear below JUNIPER COMPANY Comparative Balance Sheet December 31 Assets Accourts receivable Merchandise inventory Property, plant, and equipment

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16. The financial statements of Juniper Company appear below JUNIPER COMPANY Comparative Balance Sheet December 31 Assets Accourts receivable Merchandise inventory Property, plant, and equipment Accumulated depreciation 42,000 $25,000 34,000 15,000 78,000 $20.000 4000) 120 000 1280 26,000 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earmings 12,00023,000 13,000 10,000 41,000 10,000 33,000 24,000 Total JUNIPER COMPANY Income Statement For the Year Ended December 31, 2005 Sales Cost of goods sold Gross profit Selling-expenses $350,000 280.000 70,000 $20,000 hative expenses _16.00-3500 34,000 Income from operations Interest expense Income before income taxes Income tax expense Net income 30,000 The following additional data were provided 1. Dividends declared and paid were $14,000 2. During the year equipment was sold for $12.000.cash. This equipment cost $28,000 originally and had a book value of $12,000 at the time of sale 3. All depreciation expense is in the selling expense category. 4. All sales and purchases are on account. x 5. Accounts payable pertain to merchandise suppliers. y 6. All operating expenses except for depreciation were paid in cash. Instructions Prepare a statemient of cash flows for Juniper Company using the direct method

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