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pls fill in answers in format shown below. 23) Prepare the statement of cash flow using the following information Fitzpatrick Company's calendar-year 2016 balance sheets
pls fill in answers in format shown below.
23) Prepare the statement of cash flow using the following information Fitzpatrick Company's calendar-year 2016 balance sheets show a December 31, 2015, cash balance of $114,000, and a December 31,2016 , cash balance of $131,600. The income statement shows the following: Net Income, S116,000; Depreciation Expense, $44,000; Amortization Expense, \$7,200; Gain on Sale of Plant Assets, $6,000 (Cost = $106,000, Accumulated Depreciation =$32,000). An examination of the company's current assets and current liabilities reveals the following changes (all from operating activities): Accounts Receivable decrease, \$17,100: Merchandise Inventory decrease, \$42,000; Prepaid Expenses increase, $4,700; Accounts Payable decrease, $8,200; Other Payables increase, $1,200. Information about additional transactions during the year: Purchased equipment for $95,000 cash. Issued common stock for $75,000 cash. Paid cash dividend of $11,000. Paid $115,000 cash to settie a note payable at its $115,000 maturity value. Paid $125,000 cash to acquire its treasury stock. cash flows from investing activities Net cash provided by (used for) investing activities Cash flows from financing activities \begin{tabular}{|l|l|} \hline Cash flows from financing activities & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline Net cash provided by (used for) financing activities & \\ \hline & \\ \hline Net Increase (Decrease) in Cash & \\ \hline Cash Balance, December 31,2015 & \\ \hline Cash Balance, December 31,2016 & \\ \hline \end{tabular} Step by Step Solution
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