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please help me with preparing a statement of cash flows Suppose the income statement for Goggle Company reports $70 of net income, after deducting depreciation
please help me with preparing a statement of cash flows
Suppose the income statement for Goggle Company reports $70 of net income, after deducting depreciation of $35. The company bought equipment costing $60 and obtained a long-term bank loan for $60. The company's comparative balance sheet, at December 31. indicates the following: Required: 1. Calculate the change in each balance sheet account, and indicate whether each account relates to operating, investing, and/or financing activities. (Decreases should be indicated with minus sign.) Previous Year Current Year Change Type Cash $ 35 5 205 170 Accounts Receivable 76 175 100 Operating Inventory 200 135 (125) Operating) Equipment 500 560 60 Investing Accumulated Depreciation (45) (80) (35) Operating Total $ 825 $ 995 Wages Payable $ 10 $ 50 40 Operating Long-Term Debt 445 505 60 Financing Contributed Capital 10 10 OfFinancing Retained Earnings 360 430 70 Operating Total S 625 $ 995 Check my work
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