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Part A Mike Corp balance sheet is below with the management narrative: Assets Comparative Balance Sheet - Mike 12/31/2015 12/31/2016 Cash $ 40 $
Part A Mike Corp balance sheet is below with the management narrative: Assets Comparative Balance Sheet - Mike 12/31/2015 12/31/2016 Cash $ 40 $ 37 Accounts Receivable $ 45 $ 50 Inventory 25 $ 33 PP&E $ 526 $ 567 Accum Depr $ (330) $ (347) Total Assets $ 306 $ 340 Liabilities & Equity Accounts Payable Accrued Liabilities $ Income Tax Payable Bonds Payable Common Stock Retained Earnings Total Liabilities & Equity ssssssssss 25 $ 39 10 $ 32 $ 36 $ 31 $ 110 $ 120 $ 40 $ 51 $ 85 $ 67 $ 306 $ 340 Required: .Net Loss for the period was $9. The company sold equipment for $17 that was originally purchased for $42. The sold asset had accumulated depreciation of $13. The company paid a cash dividend during the year and did not pay-off any bonds payable or repurchase any of its own common stock. Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts)
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