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can someone show me how to do this in excel and explain how you did it by showing your work please. Asset and Contra-Asset Accounts
can someone show me how to do this in excel and explain how you did it by showing your work please.
Asset and Contra-Asset Accounts Liabilities and Stockholders' Equity Accounts Cash and cash equivalents SSD Accounts payable $351 Accounts receivable $1101 Accrued liabilities $4D Inventory $70 D Income taxes payable $81 Prepaid expenses $91 Bonds payable $1501 Long term investments $6 D. Common stock SKOD Property, plant, and equipment $1851 Retained earnings $541 Accumulated depreciation $601 Defne Long term investments that cost the company $6 were sold during the year for 5 16 and land that cost $15 was sold for $9. In addition, the company declared and paid $30 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and oquipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock The company's income statement for the year follows: Page 721 $700 400 300 Sales Cost of yoods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items Lots on sale of land 184 116 $(6) 10 Gain on sale of investments Income before taxes 120 Income taxes 36 Net income $ 84 The company's beginning cash balance was $90 and its ending balance was $85. Required: 1. Use the indirect method to determine the net cash provided by operating activities for the year 2. Prepare a statement of each Bow for the year Step by Step Solution
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