Question
Part 4: Show the total net cash flows for Duke Company. Then, show your check for your answer by verifying the net cash flows through
Part 4: Show the total net cash flows for Duke Company. Then, show your "check" for your answer by verifying the net cash flows through using the beginning and ending balances of the cash account.
Condensed financial data of Duke Company appear below:
Duke COMPANY
Comparative Balance Sheet
December 31
2017 2016
Assets
Cash $ 41,000 $ 35,000
Accounts receivable 75,000 53,000
Inventories 120,000 132,000
Prepaid expenses 19,000 25,000
Investments 100,000 75,000
Plant assets 325,000 250,000
Accumulated depreciation (65,000) (60,000)
Total $615,000 $510,000
Liabilities and Stockholders' Equity
Accounts payable $ 93,000 $ 75,000
Accrued expenses payable 29,000 24,000
Bonds payable 120,000 160,000
Common stock 275,000 170,000
Retained earnings 98,000 81,000
Total $615,000 $510,000
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