ACCT405.98A.SU.21 ACCOUNTING FOR EXECUTIVES Assignments Chapter 3 homework (myBusin Return to course Business Course Statement of Cash Flow. The following is a comparative balance sheet for Shanahan Corp. for 2019. SHANAHAN CORP. Comparative Balance Sheet As of December 31 2019 2018 Assets Cash $32,400 $34,800 Accounts receivable 74,400 66,000 Inventory 36,000 26,400 Prepaid rent 1,200 3,600 Machinery 720,000 672,000 Accumulated depreciation-machinery (144,000) (114,000) Total assets $720,000 $688,800 Liabilities and Stockholders' Equity Accounts payable $54,000 $42,000 Long-term debt 34,800 73,200 Common stock, $2 par 240,000 180,000 Additional paid in capital 312,000 312,000 Retained earnings 79,200 81,600 Total liabilities and stockholders' equity $720,000 $607,200 Notes: Cash dividends of $12,000 were paid during the year. Required Using the indirect method, prepare a statement of cash flows for 2019. Shanahan Corp. Statement of Cash Flows Year Ending December 31, 2019 esc 80 F1 F2 F3 F4 F5 F6 ~ ~ @ # $ 1 % 2 3 4 5. 6 ACCT405.98A.SU.21 ACCOUNTING FOR EXECUTIVES - Assignments Chapter 3 homework [m Business Course A Return to course Shanahan Corp. Statement of Cash Flows Year Ending December 31, 2019 Cash flow from operating activities: Net income* $ 0 Adjustments for noncash items: Increase in depreciation Increase in accounts receivable 0 oooo 0 $ 0 Increase in inventory Decrease in prepaid rent Increase in accounts payable Cash provided by operations Cash flow from investing activities: Purchase of machinery Cash used for investing activities Cash flow from financing activities: Payments of long term note Issuance of common stock 0 $ 0 0 0 0 Payment of dividends Cash provided by financing activities Net decrease in cash $ * 0 0 0 Cash at beginning of year Cash at end of year $ 0 Check