Question
Ramos Corporation's comparative balance sheets are presented below: Ramos Corporation Comparative Balance Sheets Dec.11, 2019 2019 2018 Cash P 15,200 P 17,700 Accounts Receivable 25,200
Ramos Corporation's comparative balance sheets are presented below: Ramos Corporation Comparative Balance Sheets Dec.11, 2019 2019 2018 Cash P 15,200 P 17,700 Accounts Receivable 25,200 22,300 Investments 20,000 16,000 Equipment 60,000 70,000 Accumulated Depreciation- Equipment ( 14,000) (10,000) Total 106,400 116,000 Liabilities and Stockholder's Equity Accounts Payable P 14,600 P 11,100 Bonds Payable 10,000 30,000 Common Stock 50,000 45,000 Retained Earnings 31,800 29,900 Total 106,400 116,000 Additional information: 1. Net income was P 18,300. Dividends declared and paid were P 16,400. 2. Equipment which cost P10,000 and had accumulated depreciation of P1,200 was sold for P3,300. 3. No noncash investing and financing activities occurred in 2019. Prepare a Statement of Cash Flows for 2019 using the indirect method.
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