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ending December 31, 2013. Problem 5-3 (LO5) The following pertains to Lansford Company for the year ended December 31, 2013. Depreciation expense Issuance of common
ending December 31, 2013. Problem 5-3 (LO5) The following pertains to Lansford Company for the year ended December 31, 2013. Depreciation expense Issuance of common stock Cash dividends paid Increase in inventory Decrease in accounts receivable Decrease in accounts payable Retirement (paying off) of long-term debt s 10,000 105,000 19,000 43,000 68,000 27,000 120,000 150,000 63,000 84.000 200,000 Net income Proceeds from sale of equipment ($12,000 loss) Purchase of equipment Cash and cash equivalents, beginning of year Prepare a statement of cash flows in good form using the indirect method. Calculate the cash flow to net income and cash flow adequacy ratios for the company. How would you characterize Lansford Company based only on your completed statement of cash flows (healthy and growinglexpanding, startup phase, cash cow, financially distressed, etc.)
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