Question
Preparation of Statement of Cash Flow Components JEM Company's comparative balance sheets for 2016 and 2017 appear below December 31 Assets 2017 2016 Cash $
Preparation of Statement of Cash Flow Components JEM Company's comparative balance sheets for 2016 and 2017 appear below
| December 31 |
Assets | 2017 |
| 2016 |
Cash | $ 68,000 |
| $ 22,000 |
Accounts receivable | 82,000 |
| 66,000 |
Inventory | 170,000 |
| 189,000 |
Land | 71,000 |
| 110,000 |
Equipment | 280,000 |
| 200,000 |
Accumulated depreciationequipment | (74,000) |
| (42,000) |
Total | $597,000 |
| $545,000 |
|
|
|
|
Liabilities and Stockholders Equity |
|
|
|
|
|
|
|
Accounts payable | $ 34,000 |
| $ 47,000 |
Bonds payable | 150,000 |
| 200,000 |
Common stock ($1 par) | 170,000 |
| 164,000 |
Retained earnings | 243,000 |
| 134,000 |
Total | $597,000 |
| $545,000 |
Additional information: 1. Net income for 2017 was $155,000; there were no gains or losses. 2. Cash dividends of $46,000 were declared and paid. 3. Depreciation for 2017 is 32,000. Based on the information provided, answer the following: a. What was cash provided by operations? (4 points) b. What was cash provided by investing activity? (3 points) c. How much was cash provided by financing activity? (3 points)
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