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QUESTION 1 ABC Corporation Comparative Balance Sheet December 31,2019 2019 2018 Assets Cash Accounts Receivables Supplies Land Equipment Accumulated Depreciation - Equipment Building Total Liabilities
QUESTION 1 ABC Corporation Comparative Balance Sheet December 31,2019 2019 2018 Assets Cash Accounts Receivables Supplies Land Equipment Accumulated Depreciation - Equipment Building Total Liabilities and Stockholders' Equity Accounts Payable Interest Payable Bonds Payable Common Stocks Retained Earnings Total 45,500 16,300 5,500 25,000 33,700 (4,500) 15,000 136,500 $ 25,000 15,000 3,000 35,000 20,000 (2,500) 5,000 $ 100,500 $ $ 1,500 5,000 25,000 65,000 40,000 136,500 $ 2,500 2,000 15,000 50,000 31,000 $ 100,500 $ Additional Information: Additional Information: 1. Net Income for 2019 was $ 22,000 2. The depreciation expense for 2019 is $4,700. 3. The company paid $ 13,000 cash for dividends. 4. A building costing $ 10,000 was purchased by issuing $ 10,000 bonds. 5. An Equipment costing $12,000 and had accumulated depreciation of $ 2,700 was sold for 7,500 cash. 6. Equipment costing $25,700 was purchased for cash 7. Issued common stock for $15,000 cash. 8. The land was sold for $ 14,000 cash. Prepare the cash flow statement for ABC Company for 2019
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