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Bentley Inc. began operations on January 1, 2014, adjusted trial balance at December 31, 2015 and 2016 is shown below Other information regarding theney
Bentley Inc. began operations on January 1, 2014, adjusted trial balance at December 31, 2015 and 2016 is shown below Other information regarding theney Inc. and its activites during 2016 follow in (a) rough a. Assume all accounts have normal balances b. $7,000 of the long-term notes payable wil be paid during 2017. c Equipment was sold for cash of $33,600 d Old machinery was sold for cash of $13,800. New machinery was purchased for $27,000 cash Common shares were issued for cash Cash dividends were declared and paid Using the information provided, prepare a statement of cash flows (using the indirect method) for the year ended December 31, 2016. Assume that interest is treated as an operating activity and dividends paid as a financing activity. For simplicity, ignore the required disclosures for cash flows associated with interest paid and received, dividends paid and received and income taxes as well as any non-cash disclosures that may have occurred in the current year Please make sure your final answer(s) are accurate to 2 decimal places. Account Accounts payable Accounts receivable. Accumulated depreciation, equipment Accumulated depreciation, machinery Allowance for doubtful accounts Depreciation expense, aquipment Depreciation expense, machinery Cash Dividends Equipment Machinery Inventory Long-term notes payable December 31 2016 2015 50,550 50,000 103,600 86,563 4,200 52.500 5,000 54,000 6.600 8.563 6,800 6.800 12,000 12,000 287,150 250,000 49,000 49,000 40,000 131,000 44,000 121,000 73,280 89,500 69,800 83,000 Other expenses (including losses). 720,000 45,000 Retained earnings Cevenues (including gains) 79,000 74,000 758,800 117,800 ommon shares 320,000 275,000 meamed revenue 42,690 37,000
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