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help please! THE balance sheet date of Corinne Company at the end of 20 18 and 2017 follow .20102017Cash$ 50$ 70Accounts receivable ( net )320270Buildings
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THE balance sheet date of Corinne Company at the end of 20 18 and 2017 follow .20102017Cash$ 50$ 70Accounts receivable ( net )320270Buildings and equipment*100150Accumulated depreciation - buildings and equipment*(36 )( 16 )Land18030Totals$ 55.4Accounts payable$ 160$ 146Notes payable - bank , long-termMortgage payableCommon Stock , $ 10 par410310Retained earnings5.510Totals$ 674$ 55 5Land worth $ 100 was acquired in exchange for common stock , par $ 100 , during the year ; all Equipmentpurchased was with cash . Equipment costing $ 10 was sold for $ 4 ; book value of the Equipment was $ 3and the loss was reported as an ordinary item in net income . Cash dividends of $ 20 were charged toretained earnings and paid during the year ; the transfer of net income to retained earnings was the onlyother entry in the Retained Earnings account .In the statement of cash flows for the year Ended December 31 , 2018 , the net cash provided ( used ) byoperating activities was :Select one :2 . 5 5212. $ 34[. ($ 40)J. ( $ 36 )Step by Step Solution
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