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how do i do this? Carey Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the year. (1) all sales are

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Carey Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the year. (1) all sales are credit sales. (2) all credits to Accounts Receivable reflect cash receipts from customers. (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. CAREY CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities $ 602,000 171,000 658,000 1,431,000 430,000 (203,000) $1,658,000 $ 382,000 146,000 -576,000 1,194,000 374,000 (130,000 $1,348,000 $ 148,000 34,000 182,000 $ 121,000 30,000 151,000 Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity 892,000 340,000 244,000 $1,658,000 818,000 229,000 150,000 $1,348,000 $2,938,000 1,782,000 1,156,000 CAREY CORPORATION Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 73,000 Other expenses 810,000 Income before taxes Income taxes expense Net income 883,000 273,000 83,570 189,430 $ Additional Information on Current Year Transactions a. Purchased equipment for $56,000 cash. b. Issued 37,000 shares of common stock for $5 cash per share. Additional Information on Current Year Transactions a. Purchased equipment for $56,000 cash. b. Issued 37,000 shares of common stock for $5 cash per share. c. Declared and paid $95,430 in cash dividends. Requirement General Journal General Ledger Trial Balance Direct Method Indirect Method Prepare the Statement of Cash flows for the year ended December 31, current year using the Direct Method. Hint Use the Cash T-account on the General Ledger tab to identify the sources and uses of cash. List cash outflows as negative values. Dates: Dec 31 v to: Dec 31 W Post-closing CAREY COMPANY Statement of Cash Flows (Direct Method) For Current Year Ended December 31 Cash flows from operating activities: Amortization expense Cash paid for dividends Cash paid for equipment Cash paid for income taxes Cash flows from financing activities

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