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Prepare a Statement of Cash Flows for Cucumber Row & Company See attached photo Cucumber Row & Company Balance Sheet and Income Statement Data December
Prepare a Statement of Cash Flows for Cucumber Row & Company
See attached photo
Cucumber Row & Company Balance Sheet and Income Statement Data December 31, 2021 December 31, 2020 Current Assets: Cash Accounts Receivable Inventory Total Current Assets $159,000 218,000 391,000 768,000 $119,000 306,000 340.000 765,000 Property. Plant, and Equipment Less: Accumulated Depreciation Total Assets 1,241,000 (451,000) $1.558,000 1,122,000 (442,000) $1.445.000 Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $187,000 51,000 85.000 323,000 $102,000 68,000 76,500 246,500 Bonds Payable Total Liabilities 366.000 689.000 391,000 637.500 Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 510,000 359.000 869,000 $1.558.000 467,500 340,000 807,500 $1.445.000 1,575,000 751,000 824,000 $1,513,000 731,000 782,000 Sales Revenue Less Cost of Goods Sold Gross Profit Expenses: Depreciation Expense Salaries and Wages Expense Interest Expense Loss on Sale of Equipment Income Before Taxes Less Income Tax Expense Net Income 128,000 391,000 34,000 12.000 259,000 110,000 $149.000 136,000 357,000 34,000 0 255,000 102,000 $153.000 Additional Information: During the year, the company sold equipment with an original cost of $153,000 and accumulated depreciation of $119,000 and purchased new equipment for $272,000Step by Step Solution
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