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As the accountant at O'Donnell Industries, you are responsible for preparing the cash flow statement. You have decided to prepare the statement using the direct
As the accountant at O'Donnell Industries, you are responsible for preparing the cash flow statement. You have decided to prepare the statement using the direct method and have gathered the following data from the accounting records Payment of long term debt Purchased of equipment by issuing long-term note payable Cash received from issuance of common shares Cash received from sale of land Cash received from sale of investments Cash payments to purchase property, plant, and equipment Loan(lent) to another company Cash received from sale of property, plant, and equipment Payment of cash dividends Income tax paid Cash received of dividend revenge Payments of salaries Amortization opene Cost of goods sold Cash sales Collections on accounts receivable Cash received of Interestre $200,000 85,000 300,000 17.400 36.100 76.000 75.000 31.800 4R500 39,200 19,300 91100 72.400 417,00 200.900 210,000 11.200 Iespaid Payment to suppliers Cash balance December 11, 2013 Cashbac Dec 31, 2016 0.00 294700 58.530 Prepare the cash flow statement for the year ended December 31, 2014, using the direct method, and indude a schedule of noncash investing and financing activities if necessary
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