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E.15 Please help urgent Financial statements for Crane Company are given below: Cash flows from operating activities Net income $1180000 Adjustments to reconcile net income
E.15 Please help urgent
Financial statements for Crane Company are given below: Cash flows from operating activities Net income $1180000 Adjustments to reconcile net income to net cash provided by operating activities: \begin{tabular}{|c|c|c|} \hline Increase in accounts receivable & $(390000 & ) \\ \hline Increase in accounts payable & 197000 & \\ \hline Depreciation-buildings and equipment & 364000 & \\ \hline Gain on sale of equipment & (146000 & ) \\ \hline Amortization of patents & 46000 & 71000 \\ \hline \end{tabular} Cash flows from investing activities \begin{tabular}{lr} Sale of equipment & 284000 \\ Purchase of land & (595000) \\ Purchase of buildings and equipment & (1156000) \\ \hline \end{tabular} (1467000) Net cash used by investing activities Cash flows from financing activities Payment of cash dividend Sale of common stock Net cash provided by financing activities Net increase in cash Cash, January 1, 2021 Cash, December 31, 2021 (361000) 963000 \begin{tabular}{r} 602000 \\ \hline 386000 \\ 970000 \\ \hline$1356000 \\ \hline \end{tabular} Total assets on the balance sheet at December 31,2021 are $6645000. Accumulated depreciation on the equipment sold was $335000. The accounts payable at December 31, 2021 were $886000.$197000.$257000.$651000Step by Step Solution
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