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please show all work and use excel if needed Prepare a statement of cash flows from the following. Note the company paid $10,000 and $22,000
please show all work and use excel if needed
Prepare a statement of cash flows from the following. Note the company paid $10,000 and $22,000 in preferred and common stock dividends respectively Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets Year 1 Year 2 $89,000 $100,000 64,000 70,000 112,000 100,000 10,000 10,000 275,000 280,000 238,000 311,000 (40,000) 466,000) $473,000 $525,000 Accounts payable Accrued liabilities Total current debt Mortgage payable Preferred stock Common stock Retained earnings Total debt and equity $85,000 $90,000 68,000 63,000 153,000 153,000 70,000 0 0 120,000 205,000 205,000 45,000 47,000 $473,000 $525,000 Sales Cost of goods sold Gross profit Selling, general and administrative expenses Depreciation expense Operating income Interest expense Earnings before taxes Taxes Net income Year 2 $184,000 60,000 124,000 44,000 26,000 54,000 4,000 50,000 16,000 $34,000 Step by Step Solution
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