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Please help me out. Thank you. QuinJet Company's comparative balance sheets are presented below: 2018 2019 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total $16,800
Please help me out. Thank you.
QuinJet Company's comparative balance sheets are presented below: 2018 2019 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total $16,800 24,930 20,110 59,950 (13,970 ) $107,820 $17,410 22,380 15,860 70,140 (10,190 ) $115,600 Accounts payable Bonds payable Common stock Retained earnings Total $14,660 10,630 50,190 32,340 $107,820 $11,110 30,160 45,080 29,250 $115,600 Additional information: 1. Net income was $18,560 for 2019. 2. 3. Depreciation expense for 2019 is $5,360. Equipment which cost $10,190 and had accumulated depreciation of $1,580 was sold for $3,450. This resulted in a loss of $5,160 for the company. The investments purchased during the period were purchased with cash. 4. 5. The common stock issuance was for cash. 6. Dividends declared and paid were $15,470. 7. Bonds payable decreased by the amount of par value payments (made with cash). Required: Prepare the company's statement of cash flows for 2019 and show any necessary work. Use the indirect methodStep by Step Solution
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