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Prepare a statement of cash flow on both direct and indirect method 2019 2018 Assets: Cash Accounts receivable, net Inventory Trading securities Prepaid expenses Property,
Prepare a statement of cash flow on both direct and indirect method 2019 2018 Assets: Cash Accounts receivable, net Inventory Trading securities Prepaid expenses Property, plant & equipment Accumulated depreciation Total Assets 245,000 95,000 52,000 40,000 13,000 800,000 (90,000) 1,155,000 70,000 90,000 60,000 30,000 20,000 600,000 (60,000) 810,000 Liabilities & Equity Accounts payable Accrued liabilities Interest payable Long-term Notes Payable Common stock Additional paid in capital Paid in capital-stock options Retained earnings 44,000 11,000 15,000 75,000 210,000 350,000 65,000 385,000 1,155,000 50,000 20,000 5,000 50,000 200,000 260,000 30,000 195,000 810,000 Sales Cost of goods sold Gross profit Operating expenses Operating income Unrealized gains-trading securities Pre-tax income Income taxes Net income 2,150,000 1,215,000 935,000 560,000 375,000 10,000 385,000 75,000 310,000 a. Stock option expense of $35,000 was recognized in 2019 b. Equipment of $200,000 was purchased using cash and $100,000 common stock, with $90,000 excess of par
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