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answer asap pls. Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in Millions). Prepare a statement of cash flows for
answer asap pls.
Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in Millions). Prepare a statement of cash flows for December 31, Year 2 using the indirect method. Dubai Industries, Inc Balance Sheets At December 31, Year 2 and Year 1 Year 2 Year 1 Cash 596719 $28.694 Accounts Receivable 100.000 85313 Inventory 206,250 181.250 Prepaid Insurance 1.875 2.500 Lard. Buildings, and Equipment 1.562.500 1.406250 Accumulated Depreciation 762500) 715.000 Investments 19.375 105 250 Total Assets $1224 219 $1.095.250 Accounts Payable 995.425 $185.838 Salaries Payable 25.000 30.605 Notes Payable 31.250 9370 Fonds Payable 250.000 375.000 375.000 Common Stock 447544 410.044 Retained Earnings $1224219 $1.095 256 Additional information for Wear 2 (1) Sold available for sale securities costing $56,875 for $92.500. (2) Equipment costing $25,000 with a book value of 56.250 was sold for $7.500 (3) Issued 8% bonds at face value for $250,000 (1) Purchased new equipment for $181,250 and paid cast (5) Paid cash dividends of $25,000 (6) Net income was 562.500. Common Stock 375,000 375,000 Retained Earnings 447,544 410,044 $1,224,219 $1,095,256 Additional information for Year 2 (1) Sold available for sale securities costing $86,875 for $92,500. (2) Equipment costing $25,000 with a book value of $6,250 was sold for $7,500 (3) Issued 8% bonds at face value for $250,000. (4) Purchased new equipment for $181,250 and paid cash. (5) Paid cash dividends of $25,000. (6) Net income was $62,500. What is the net cash provided or used by operating activities? O 13225 O (13225) O 90413 O (90413) Step by Step Solution
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