ID: A Prepare the journal entries for the follow ing transactions for Morgan Co (a) Mogan Co purchased 23,000 shares of the total of 100,000 shares of Gordon Corp. stock for $10 per share plus a S$400 commission (b) Gordon Corp.'s total earnings for the period are $30,000. (e) Gordon Corp. paid a total of $45,000 in cash dividends. Problem Cash Flows Final On the basis of the following data for Teller Co. for 2008 and the preceding year ended December 31, 2003, prepare a statement of cash flows. Use tho indirect method of reporting cash flows from operating activities. Assume that equipmeat costing $125,000 was purchased for cash and equipment costing $85,000 with accummilated dapreciation of $65,000 was sold for $15,000; that the stook was isued for cash; and that the only entries in the retained earnings account were net income of $51,000 and cash dividends declared of 1. $13,000. Cash Accounts receivable (net) Inventories Equipment Accumulated depreciation Year 2008 S100,000 78,000 101,500 410,000 Year 2007 78,000 85,000 90,000 370,000 , 150.000) (158.000) $539.500 $465.000 S 58,500 55,000 Accounts payable (merchandise creditors) Cash dividends payable Common stock, S10 par 4,000 200,000170,000 5,000 Paid-in capital in excess of par- 60,000 214.000176.000 common stock 62,000 Retained earmings