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Problems 17-19 (12 points each): 17. Salazar, Inc. has the following partial comparative balance sheet data for 2018-2019: December 31, December 31, 2019 2018 Cash
Problems 17-19 (12 points each): 17. Salazar, Inc. has the following partial comparative balance sheet data for 2018-2019: December 31, December 31, 2019 2018 Cash $288,000 $320.000 Accounts Receivable 40.000 15.000 Inventories 60,000 44,000 Equipment 30.000 Accumulated depreciation equipment 20,000 (9,000 Land 380,000 260,000 Accounts Payable 19,000 39.000 Dividends Payable 82,000 220,000 Common Stock, si par 10,000 1.000 Paid in capital, excess of price over par-Common stock 76,000 12,000 90,000 . Additional 2019 data: 1) 2019 Depreciation Expense was $11,000. II) Fully depreciated Equipment (zero book value) was disposed of for $15,000 cash, and Land was acquired for $120,000 cash. iii) 2019 Net Income was $203,000. iv) 2019 Cash Dividends paid were $138,000. v) Common Stock was issued for cash. Instructions: Prepare a Full Statement of Cash flows (show Operating, Investing, and Financing activities) using the Indirect Method of presenting Cash Flows from Operating Activities (use format Exhibit 7, text pg. 622). student
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