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Prepare a statement of cash flows for the year ended December 31, 2021 Comparative balance sheets at December 31, 2020 and 2021, for the Morse

image text in transcribedPrepare a statement of cash flows for the year ended December 31, 2021

Comparative balance sheets at December 31, 2020 and 2021, for the Morse Company are shown below. The income statement for the year is as follows: Additional Information: a. A fully depreciated plant asset, which originally cost $22,000 and had no salvage value, was sold for $1,100. b. Bonds payable were issued at par value. One-half of the bonds were exchanged for land; the remaining half was issued for cash. c. Common stock was sold for cash. d. The only entries in the Retained Earnings account are for dividends paid and for the net income for the year. You will have to calculate dividends paid from the information provided. e. Normal depreciation expense was recorded during the year and the franchise was amortized

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