Provide a statement of cashflows.

Supplement 7-3: Week 7 Post Assignment Problems Madison Company Cash Flow Balance Sheet Account Cash Accounts Receivable Allowance for Bad Debts Inventory Trading investments Plant Change Dr (Cr) 12/31/X1 12/31202 108.500 29,000 (5,000) 8,000 86.500 1,000 (1,000) (2.000) (20,000) (13,000) (6,000) 4,000 4,000 65,000 (2,000) 22.000 28,000 (4,000) 10,000 20.000 60,000 (20,000) 44,000 (16,000) 60,000 14.000 218,000 47.000 Accumulated Depr. Plant Equipment Accumulated Depr. Equipment Land Patents (26,000) 48,000 (12,000) 125,000 12.000 Total assets 334,500 (18,000) (2,000) (4,000) (13,000) (15,000) (45,000) (19,500) Accounts Payable Wages Payable Dividend payable Notes Payable, Long Term Common Stock-5 par Paid in Capital in excess of par Retained Earnings Total liabilities and equity Income Statement Account 22,000 2,000 4,000 51,000 65,000 85,000 105.500 334,500 4,000 0 38,000 50,000 40,000 86,000 218,000 Sales Cost of Goods Sold Depreciation and Amortization Exp Other Expenses Bad debt expense Lower of cost or market adjustment Loss on the sale of equipment Impairment loss on plant Gain on the sale of trading investments Loss on non-recourse factoring of A/R Income Tax expense 225,000 110,000 12,000 39,000 10,000 4,000 5,000 13,000 (5,000) 1,500 12,000 201,500 23,500 Net Income Other Information 1. During the year the company declared dividends totaling $4,000 2. At the end of the year, sold equipment that cost $16,000 (50 % depreciated) 3. Purchased land that cost $25,000, paid cash of $7,000, gave a long term note for the balance 4. Paid $5,000 to retire a long-term note payable 5 Issued 3,000 shares of stock with a fair value of $20 per share, 2,000 issued for land, 1,000 issued for cash 6. Sold a long term investments with a cost of $20,000 7 Accounts receivable of $35,000 were sold to a finance company on a non-recourse basis Supplement 7-3: Week 7 Post Assignment Problems Madison Company Cash Flow Balance Sheet Account Cash Accounts Receivable Allowance for Bad Debts Inventory Trading investments Plant Change Dr (Cr) 12/31/X1 12/31202 108.500 29,000 (5,000) 8,000 86.500 1,000 (1,000) (2.000) (20,000) (13,000) (6,000) 4,000 4,000 65,000 (2,000) 22.000 28,000 (4,000) 10,000 20.000 60,000 (20,000) 44,000 (16,000) 60,000 14.000 218,000 47.000 Accumulated Depr. Plant Equipment Accumulated Depr. Equipment Land Patents (26,000) 48,000 (12,000) 125,000 12.000 Total assets 334,500 (18,000) (2,000) (4,000) (13,000) (15,000) (45,000) (19,500) Accounts Payable Wages Payable Dividend payable Notes Payable, Long Term Common Stock-5 par Paid in Capital in excess of par Retained Earnings Total liabilities and equity Income Statement Account 22,000 2,000 4,000 51,000 65,000 85,000 105.500 334,500 4,000 0 38,000 50,000 40,000 86,000 218,000 Sales Cost of Goods Sold Depreciation and Amortization Exp Other Expenses Bad debt expense Lower of cost or market adjustment Loss on the sale of equipment Impairment loss on plant Gain on the sale of trading investments Loss on non-recourse factoring of A/R Income Tax expense 225,000 110,000 12,000 39,000 10,000 4,000 5,000 13,000 (5,000) 1,500 12,000 201,500 23,500 Net Income Other Information 1. During the year the company declared dividends totaling $4,000 2. At the end of the year, sold equipment that cost $16,000 (50 % depreciated) 3. Purchased land that cost $25,000, paid cash of $7,000, gave a long term note for the balance 4. Paid $5,000 to retire a long-term note payable 5 Issued 3,000 shares of stock with a fair value of $20 per share, 2,000 issued for land, 1,000 issued for cash 6. Sold a long term investments with a cost of $20,000 7 Accounts receivable of $35,000 were sold to a finance company on a non-recourse basis