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During the year 2000 declared and paid dividends of $2,500, during 2000, ABC paid $46,000 in cash to acquire new fixed assets. The accounts payable
During the year 2000 declared and paid dividends of $2,500, during 2000, ABC paid $46,000 in cash to acquire new fixed assets. The accounts payable was used only for inventory. No debt was retired during 2000. Required: Construct a statement of cash flows. 2000 1999 Cash $4,000 $14,000 32,500 7,000 34,000 270,000 (30,000) 327,500 $16,000 7,000 Accounts receivable 25,000 Prepaid insurance 5,000 Inventory 37,000 Fixed assets 316,000 Accumulated Depreciation (45,000) Total assets 342,000 Accounts payable $18,000 Wages payable 4,000 Note payable 173,000 Capital stock 88,000 Retained earnings 59,000 Total Liabilities & Equity 342,000 2000 Sales $200,000 Cost of goods sold (123,000) Depreciation expense (15,000) Insurance expense (11,000) Wage Expense (50,000) 160,000 84,000 60,500 327,500 Net Income 1.000
During the year 2000 declared and paid dividends of $2,500, during 2000, ABC paid $46,000 in cash to acquire new fixed assets. The accounts payable was used only for inventory. No debt was retired during 2000.
Required:
Construct a statement of cash flows.
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