Question
Could you please help me answer the questions below. A comparative balance sheet for Google appears below: Google. Comparative Balance Sheet 12/31/yr212/31/yr1AssetsCash$23,000$10,000Accounts receivable18,00014,000Inventory27,00018,000Prepaid expenses6,0009,000Long-term investments-0-18,000Equipment60,00032,000Accumulated
Could you please help me answer the questions below.
A comparative balance sheet for Google appears below:
Google.
Comparative Balance Sheet12/31/yr212/31/yr1AssetsCash$23,000$10,000Accounts receivable18,00014,000Inventory27,00018,000Prepaid expenses6,0009,000Long-term investments-0-18,000Equipment60,00032,000Accumulated depreciationequipment(18,000)(14,000)Total assets$116,000$87,000Liabilities and Stockholders' EquityAccounts payable$17,000$7,000Bonds payable37,00047,000Common stock40,00023,000Retained earnings22,00010,000Total liabilities and stockholders' equity$116,000$87,000
Additional information:
- Net income was $24,000 and $12,000 cash dividends were declared and paid during yr2
- Long-term investments that had a cost of $18,000 were sold for $16,000, a loss of $2,000
- There were purchases of Equipment, but no sales or disposals.
Instructions: Create a statement of cash flows for December 31, 20yr2, (only theindirectmethod). You may enter it directly using a table or plain text entry, or you may copy/paste it from another program. Be sure toinclude section captions and properly labeled totals and subtotals.
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