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Please answer questions (a) and (b) listed under the Instructions. Cassy Corporation's balance sheet at the end of 2013 included the following The following information
Please answer questions (a) and (b) listed under the Instructions.
Cassy Corporation's balance sheet at the end of 2013 included the following The following information is available for 2014. Treasury stock was purchased at a cost of $13,200. Cash dividends of $36,000 were declared and paid. A long-term investment in stock was purchased for $19,200. Current assets other than cash increased by $34,800. Current liabilities increased by $15,600. Depreciation expense was $4,800 on the building and $10,800 on equipment. Net income was $66,000. Bonds payable of $60, 000 were issued. An addition to the building was completed at a cost of $32,400. Patent amortization was $3,000. Equipment (cost $24,000 and accumulated depreciation $9,600) was sold for $12,000. Instructions Prepare a balance sheet at December 31, 2014. Prepare a statement of cash flows for 2014
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