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Kerby Company has prepared the following Balance Sheets for 2023 and 2022. 12/31/23 12/31/22 Cash $ 56 $ 40 Accounts receivable 41 42 Fixed assets
Kerby Company has prepared the following Balance Sheets for 2023 and 2022.
12/31/23 | 12/31/22 | |||
Cash | $ 56 | $ 40 | ||
Accounts receivable | 41 | 42 | ||
Fixed assets | 579 | 465 | ||
Accumulated depreciation | (170) | (140) | ||
$506 | $407 | |||
Accounts payable | $ 74 | $ 60 | ||
Mortgage payable | 20 | 99 | ||
Preferred stock | 181 | 100 | ||
Additional Paid-In Capital - preferred | 70 | 40 | ||
Common stock | 100 | 100 | ||
Retained earnings | 61 | 8 | ||
$506 | $407 |
- On 8/1/23, Kerby sold a fixed asset with a cost of $91 and book value of $66 for $67.
- Retained Earnings was adjusted by dividends and net income only.
- Net Income in 2023 was $80.
a. Net Cash Provided by Operations is $______________
b. Net Cash Used by Investments is $_______________
c. Net Cash Provided by Financing is $______________
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