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Could you help me prepare the statement of cash flows from the trial balance and additional information provided? I need to determine net income first,
Could you help me prepare the statement of cash flows from the trial balance and additional information provided? I need to determine net income first, which I believe is $210,375.
Dear Students Thomas Pillows Co.'s President Thomas Turkey has asked you to complete the formal cash flow statement for the year ended December 31, 2022. In order to complete the statement they have attached the Trial Balance under Trial balance tab. In addition to the Trial Balance they have provided the following information below to help clarify various transactions 1) We sold marketable securities at gain that had a cost of $10,000 2) We received Proceeds from the sale of equipment that had a Cost of $30,000 3) The Long-term investments were sold that had a cost basis of $2,000 4) Gain on sale of Discontinued Operations was made up from Income from Discontinued Operations, and a $50,000 impairment loss 5) There was a $3000 reduction in long-term investments value that was recorded as an OCl item 6) The company acquired $20,000 of land by issuing 1000 share of $15 par value stockStep by Step Solution
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