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Prepare a statement of cash flows, in proper form, for the year ended December 31, 2013, using the indirect method GALLUP COMPANY Comparative Balance Sheets
Prepare a statement of cash flows, in proper form, for the year ended December 31, 2013, using the indirect method GALLUP COMPANY Comparative Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets Cash Accounts receivable Inventory Long-term investments Equipment Acc depreciation-equip $13,000 $15,000 18,000 24,000 32,000 12,000 0 18,000 60,000 30,000 14,000 18,000 $105,000 $85,000 Total assets Liabilities and Stockholders Accounts payable Salaries payable Bonds payable Common stock Retained earnings ' Equit $ 25,000 $13,000 5,000 32,000 40,000 8,000 44,000 15,000 3,000 5,000 $85,000 Total liabilities and stock equity $105,000 Additional information: Net income for the year ended December 31, 2013, was $16,000 Cash dividends of $18,000 were declared and paid during the year Long-term investments that had a book value of $18,000 were sold for $16,000 Sales for 2013 are $120,000
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