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A comparative balance sheet for Farid Company appears below: At Dec, 31, 2017 (in JD) : Cash = 10,000 JD Inventory = 18,000 Longterm investments
A comparative balance sheet for Farid Company appears below: At Dec, 31, 2017 (in JD) : Cash = 10,000 JD Inventory = 18,000 Longterm investments = 18,000 Equipments = 32,000 Accounts Payable = 7,000 Common Stock = 23,000 Accounts receivable = 14,000 Prepaid expenses = 9,000 Accumulated depreciation = 14,000 Bonds payable = 47,000 Retained Earnings = 10,000 At Dec, 31, 2018 ( in JD) : Cash = 23,000 Inventory = 27,000 Longterm investments = 0 Accumulated Depreciation = 18,000 Accounts Payable = 17,000 Common Stock = 40,000 Accounts Receivable = 18,000 Prepaid Expenses = 6,000 Equipments = 60,000 Bonds Payable = 37,000 Retained Earnings = 22,000 Additional Information: - Net income for the year ended Dec, 31,2018 was 24,000 - Cash Dividends of 12,000 JD was declared and paid during the year - Long term investments that had a cost of 18,000 JD were sold for 16,000 JD cash. - Sales for 2018 were 120,000 JD 15. Net cash provided by operating activities = * (3 Points) 26,000 30,000 36,000 40,000
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