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need help understand this with steps to answers :) Prepare and Interpret a Statement of Cash Fows - A comparative balanoe sheet for Phililios Cornnaw
need help understand this with steps to answers :)
Prepare and Interpret a Statement of Cash Fows - A comparative balanoe sheet for Phililios Cornnaw The following additional information is avallable about the company's activities during this year: a. The compary declared and pald a cash dividend thls year. b. Bonds with a principal balance of $407,000 were repaid during this year. c. Equipment was sold during this year for $83,500. The equipment had cost $184,000 and had $72,400 in accumulated depreciation on the date of sale. d. Long-term investments were sold during the year for $164,000. These investments had cost $74,300 When purchased several years ago. e. The subsidlaries did not repay ary outstanding loans during the year. f. Lomax did not repurchase any of its own stock during the vear. The compary reported net income this year as follows: Required: 1. Using the indirect method, prepare a statement of cash flows for this year, (List ary deduction in cash outflows as negative arnounts.) 2. What problems relating to the company's activities are revealed by the statement of cash flows that you have prepared Step by Step Solution
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